SpainFormer world number one Rafael Nadal has earned $100 million after selling a 44.9% stake in his Mallorca tennis academy to a private company.

Nadal announced the deal to sell nearly half of his ownership of the Mallorca tennis academy earlier this week to private investment company GPF, according to Spanish media.

This is the first academy Nadal built, in 2016. Participants in training here need to pay a fee of $62,000 per year. The Nadal Academy in Mallorca is one of the largest sports facilities in Spain, with 19 competition-standard courts and a strong coaching staff. Nadal’s uncle, coach Toni Nadal, is the training manager. The tennis player himself, known as the “King of Clay”, also spends a certain amount of time instructing his students.

Late last year, Nadal’s academy suffered major damage after a storm swept through the island of Mallorca. The 22-time Grand Slam champion shared images of the damage on social media and later spent millions of dollars to repair it.

Nadal also has academies in Cancun, Kuwait and Greece, all of which are run by the Aspemir company, which is run by his mother, Ana Maria. According to Mallorca Daily, Aspemir’s net worth increased by 44% to $350 million in 2023, with a record $97 million in profits.

Nadal and his family still own most of the academy system and could sell it for a profit. However, Spanish media say this is unlikely because the former world number one is very dedicated to training. Nadal’s academy often welcomes the children of famous people to train, including Roger Federer’s. Many big players have also spent a long time training here, such as Casper Ruud or Denis Shapovalov.

In addition to training, Nadal’s academies also host tournaments, host many events and provide vacation services with hotels and restaurants on the premises. “A few months ago, I climbed a mountain with Federer in Italy for an interview. There we talked about something that I think is very important: Legacy. I want to leave something for tennis,” Nadal said in an interview with Marca last year.

Nadal retires from the Davis Cup in November 2024, after two decades of playing at the top and winning 22 Grand Slams. The 14-time Roland Garros champion attended the Gran Gala of Mundo Deportivo this week and was asked once again about the two biggest rivals of his career in the “Big 3”.

“They are definitely the strongest opponents,” Nadal said. “The three of us push each other to the limit. We learn from each other. Without one of the other two, we wouldn’t have achieved what we have achieved today.”

Nadal said the fierce competition of the “Big 3” has put all three of them under great mental and physical pressure. “Maybe we all went beyond our limits to prolong our careers as much as possible,” he said. “Right now, I live with much less pain than before I retired. Going up and down stairs is much easier. This is a big step forward in my life. I’m adapting to the new life and it helps me not miss tennis too much.”

Djokovic is the only one of the “Big 3” still competing, at the age of 37. Previously, Federer retired in 2022 at the age of 41, while Nadal stopped playing at 38.