(CNN) -- The fledgling International Premier Tennis League suffered a blow when two of the world's most recognized female athletes snubbed the event. 

Max Eisenbud, the agent of both Maria Sharapova and Li Na, told CNN on Thursday that neither would be appearing in the team tournament that is set to make its debut in Asia this November. 

Sharapova transcends tennis and has long been a magnet for sponsors -- the Russian is perennially listed as the world's richest female athlete by Forbes -- while China's Li is one of the marquee names in Asia, having captured a second grand slam title at the Australian Open in January. 

Li was "confirmed" as one of the entrants by the League in a press release last May. 

"Maria and Li Na will not be participating," Eisenbud said in an email. 

Mahesh Bhupathi, a grand slam doubles winner and the main man behind the project modeled after cricket's highly successful Indian Premier League, will now be hoping he can secure the likes of Rafael Nadal, Novak Djokovic and Andy Murray. 

Roger Federer, the 17-time grand slam champion and still the biggest name in the sport, told Gulf News this week he generally backed the idea. 

The player list is expected to be revealed Friday. 

"Firstly, I want to see whether it takes off or not," Federer told Gulf News. "I know a lot of people have invested in it or are part of it. Anywhere where tennis grows is a good thing, so I hope it takes off and becomes very successful. 
Where then?
while China's Li