Madrid: Rafa Nadal has set up his own company to manage athletes and organise events with his long-term agent Carlos Costa, the world number five announced on Saturday.
"Together with his manager, Carlos Costa, Rafa Nadal began a new adventure on January 1 in the world of representing athletes of various sports like tennis, golf and football as well as organising events," Nadal's spokesman said in a brief emailed statement.
Spaniard Nadal, who is making his return from a seven-month injury layoff at this week's clay event in Vina del Mar, Chile, was previously represented by U.S.-based firm IMG, for whom Costa also worked.
He earned $25 million in endorsements last year from companies including Kia Motors and Nike, according to Forbes, putting him equal 16th on the magazine's list of the world's highest-paid athletes (www.forbes.com/athletes/list/).
IMG spokesman Jim Gallagher confirmed Nadal's contract with the company had expired at the end of 2012.