Nadal: Payments 'up to date'

THE ASSOCIATED PRESS

MADRID, Spain -- Rafael Nadal says his fiscal requirements are up to date after a Spanish website reported the Australian Open finalist had set up several companies to trim his tax bill.

Spanish website Primeran says Nadal created companies in the Basque region to take advantage of a local tax rule to drop the amount of income tax he would have to pay from image rights. Spanish media reported on Thursday that Basque tax authorities were investigating.

Nadal issued a statement acknowledging the existence of the companies, which had been transferred to his home residence of the Balearic Islands. Nadal says he gained "no benefit," while the companies mentioned "are up to date with the payment of all tax obligations."