Carlos Alcaraz and Rafael Nadal reunite on the red carpet at the Laureus World Sports Awards

A penny for their thoughts! Carlos Alcaraz and Rafael Nadal shared a laugh on the red carpet at the Laureus World Sports Awards in Madrid on Monday evening, as both were on hand for the annual star-studded evening that honors athletic excellence.

Alcaraz was one of five nominees for the Laureus World Sportsman of the Year prize, while Nadal was awarded the second-ever Laureus Sporting Icon Award, which was first awarded to motorcycling great Valentino Rossi in 2022. He was presented his honor by legendary Olympic gold medal-winning hurdler Edwin Moses, and handed his trophy by gymnast Simone Biles, the winner of World Sportswoman of the Year.

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"Away from the tennis court, his work with his foundation continues to change young lives for better, some 15 years after its inception. As I stand here in the Spanish capital, I'm proud to honour a global sport icon and one of his country's grestest-ever sportsmen, a man with an indomitable will to win, but wrapped in compassion, humility and sportsmanship."

Nadal took to the stage and shared pearls of wisdom to his fellow athletes.

"I didn't prepare for this amazing moment, talking in front of all of you," Nadal said. "But a lot of you have been sportspeople that inspired [me] since I was a kid and having the chance to talk in front of you today is something very, very special. Congrats [to] Simone and the rest of you for amazing careers. Wishing you the best of luck in the future.

"The ones that keep competing, enjoy the moment, because the professional careers are short. But just try hard, enjoy and appreciate every single moment that you have the chance to enjoy this beautiful world of sport. Keep going."

Though Nadal and Alcaraz giggled together on the red carpet, thing were much more serious between the two just 24 hours earlier, after the recently-retired great sent a text message of support to Alcaraz following his straight-sets defeat to Holger Rune in the final of the Barcelona Open Banc Sabadell. In the match, Alcaraz had a medical timeout for a right leg injury, and afterwards, spoke to media about the even greater admiration for his idol that flowered as a result.

He had been trying to match Nadal's feat, 10 times over, of winning Monte Carlo and Barcelona back-to-back.

Read more: Carlos Alcaraz’s loss shows the Monte Carlo-Barcelona double isn’t as easy as Rafael Nadal made it look

"I bow at the feet of Rafa because of what he did week after week. You have to respect that,” Alcaraz said. “We admire Rafa for what he’s done, particularly on this swing. But winning everything consecutively is kind of impossible. And once you’ve experienced it firsthand, you appreciate what Rafa did much more and how difficult it is to be 100% physically and mentally week after week.”

But the two Spaniards weren't the only tennis stars in the room for the reception. Five-time Sportsman of the Year recipient Novak Djokovic presented the award, eventuall given to pole vaulter Mondo Duplantis over Alcaraz, swimmer Leon Marchand, cyclist Tadej Pogacar and Formula One driver Max Verstappen.

"When you achieve your childhood dreams, it's an amazing feeling," Djokovic said before naming the winner. "Winning the Laureus Sportsman of the Year is the highest honour you can be blessed with in sport globally, because you're elected and recognised by the greatest athletes in the history of sports, many of whom are present in this room this evening."

Elsewhere, Paula Badosa and Stefanos Tsitsipas walked the red carpet together, while Belinda Bencic, Caroline Garcia, Laureus ambassador Garbiñe Muguruza, and Donna Vekic also attended.