STUTTGART, Germany -- Stuttgart could lose its Masters Series event because of financial difficulties, tournament managing director Klaus-Dieter Heldmann said Sunday.

Heldmann said the contract between rights holders and Stuttgart organizers might be terminated after attendance figures at the $2.95 million men's tournament dropped by 18 percent this year.

"A decision on whether we will be able to keep the contract will be taken in the next few days," he said.

Tennis in Germany is going through a crisis after the retirements of Steffi Graf and Boris Becker and even the victory of Tommy Haas in Sunday's final is not enough to guarantee the tournament's future.

Organizers are struggling to find partners and this year's tournament did not have a title sponsor, nor was it broadcast live on free television in Germany.

Promoter Ion Tiriac, who holds the rights for the event, has received offers from Shanghai, Madrid and Hong Kong but dismissed reports that the tournament would definitely be moved as speculation.

"Yes, we have been approached by a lot of people and yes, they (Shanghai, Madrid and Hong Kong) are possibilities," he said. "Stuttgart must now make a decision quickly."