Rafael Nadal’s 43.6 million euro assets will now be handled by Bank Santander

Rafael Nadal’s 43.6 million euro assets will now be handled by Bank Santander

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Rafael Nadal as the brand ambassador for Tommy Hilfiger
Rafael Nadal as the brand ambassador for Tommy Hilfiger

Recently, the bank Santander has acquired the role of handling Rafa’s company Growth Inversiones. The assets transferred to them are worth 43.6 million euros. There have been various changes for Rafa on the financial front.

Nadal ends a 20 year old relation with Bank Sabadell

Rafael Nadal with the 2019 Barcelona Trophy
Rafael Nadal with the 2019 Barcelona Trophy

In the first half of 2020, the company had Rafa’s assets of 43.6 million euros. Even though it is jointly owned by Rafa Nadal and his family, Rafa was only 13 when it was founded. Thus, for a long part of his career, the Bank Sabadell enjoyed their term with the Spanish Tennis star.

Bank Sabadell enjoyed the responsibilities of handling the Spanish icon’s finances for over two decades. Bank Sabadell pockets a major sponsorship at the Barcelona Open. Thus, Nadal had been the icon for this ATP tournament every year.

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If we break down the investment by the company, it targets investment funds, fixed income, and foreign variable income. The major part of 95% of the assets is invested outside of Spain, while only the remaining 5% is invested in national assets, of which only 1% is on the Spanish Stock Market.

Bank Santander also took over the management of Rafa’s wealth, but only a portion of it. It was a part of the agreement and was certified this Monday in the commercial register.

Rafael Nadal’s father no longer President of the Company

Rafael Nadal's father , Sebastian Nadal.
Rafael Nadal’s father, Sebastian Nadal at one of his matches.

Rafael Nadal’s father was the president of the board of Growth Inversiones. He is now replaced by Rocío Aterido Galdón, a director with extensive experience in governing bodies of a similar kind. Also leaving the board are José Triginer a Barcelona executive and Ramon Masnou and a Majorcan lawyer with extensive experience in companies.

Major changes for Rafael Nadal at financial front

Rafael Nadal's Academy in Kuwait.
Rafa Nadal Academy in Kuwait

Rafel Nadal is also the proud owner of Rafa Nadal Academy in Mallorca, Spain. This year he extended the academy and inaugurated its Kuwait branch.

The Spaniard also uses his wealth to contribute to the society. He has made several donations in Spain and India amidst the pandemic.

Also Read: Rafael Nadal did the right thing to skip US Open, Novak Djokovic is favorite to win: Adriano Panatta