Nadal becomes shareholder at Mallorca
"It's an honour to be able to help Real Mallorca, I will help in any way I can," Wimbledon champion Nadal was quoted as saying on the club website.
"I am proud to be a part of this new project put together by Mallorca locals. I am very pleased to have (Michael) Laudrup as the new coach and as the image for the club."
Nadal, a Real Madrid fan, was born and lives in Manacor on the Mediterranean island.
His uncle Miguel Angel Nadal, the former Barcelona and Spain defender, will be number two to Laudrup, who was appointed to replace Gregorio Manzano last week.
Mallorca are struggling with debts of up to 85 million euros, are in voluntary administration, and have just been taken over by a consortium led by a former coach Llorenc Serra Ferrer.
They finished fifth in La Liga last May earning a place in next season's Europa League.