uan Carlos Ferrero, who was ranked No. 1 in men's tennis in 2003, Wednesday announced he was retiring from competitive tennis next month.
Ferrero, 32, has been hampered by injuries in recent seasons and is ranked No. 111. He won the French Open in 2003 and later that year rose to No. 1 in the rankings for eight weeks.
Ferrero said he will retire after the Valencia Open 500, an event he won in 2003, in his home country of Spain. The 2012 tournament begins Oct. 22.
"The Valencia Open 500 will be my last tournament, it's the best possible stage for me to retire," Ferrero said. "Because of injuries, I was not able to play a full season and it's been a complicated year as I could see I didn't have the same ambition after 14 years on the tour.
"I am very excited about my new life and new projects. I will of course still be involved with tennis through the Valencia Open 500, the academy and my foundation."
Ferrero turned professional in 1998 and won 16 titles, including the tournament in Stuttgart, Germany, last year, and nearly $14 million in prizes. His singles record is 479-261.
In addition to winning the French Open in 2003, he was second at the U.S. Open that year. That result moved him to No. 1 in the rankings.
