World No. 1 Novak Djokovic, a first-round Olympic loser, has withdrawn from next week's ATP Masters Series event in Cincinnati because of a left wrist injury, tournament organizers announced Wednesday. Djokovic, a five-time finalist in Cincinnati, lost his opening round singles match at the Rio Games to Argentina's Juan Martin del Potro Sunday. "I am very sad to announce that I won't be able to play this year in Cincinnati," Djokovic said in a statement. "I have a recurring injury that has taken its toll on my body due to a very busy and active schedule this year. I have played many matches and I have to take some rest in order to heal." Djokovic has reached the finals in 14 of his past 15 ATP Masters Series appearances. "I always have my hopes high on returning to Cincinnati and winning the only trophy I am missing in the Masters Series," he said. He lost to Roger Federer in the finals last year, preventing him from becoming the first to win all nine current ATP Masters events. Djokovic is 0-5 in Cincinnati championship matches, never winning so much as one set. By contrast, Federer has won the tournament an unprecedented seven times, going 7-0 in title matches. Federer also will miss the tournament, taking the rest of the year off to build up a surgically repaired knee. Serena Williams, the defending champion on the women's side, also plans to skip the tournament, which overlaps the end of the Olympics. The top-ranked players usually use the Cincinnati tournament as a final tuneup for the US Open, but the Olympics scrambled their schedules this year.