Rafa Nadal will have one last chance to face old rival Novak Djokovic before the Spaniard calls time on his illustrious career with the pair set to meet at the Six Kings Slam exhibition event in Saudi Arabia.

Nadal lost 6-3 6-3 to Carlos Alcaraz in the semifinals on Thursday to set up a third-place match against the Serb, who was beaten 6-2 6-7(0) 6-4 by Jannik Sinner.

World number one Sinner will meet Alcaraz in the final at Riyadh where the winner will take home $6 million.

"To have Novak in front of me, it's like a nostalgic thing," Nadal told reporters. "We've played each other a lot, so it'll be fun to play each other again in this match."

The 22-time Grand Slam champion, who announced his retirement last week, has faced Djokovic in 60 matches - the most in men's tennis - and has triumphed 29 times to the Serb's 31.

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The last time Nadal faced 24-time Grand Slam champion Djokovic was in the second round of the Paris Olympics, where he lost 6-1 6-4.

Nadal, who also teamed up with Alcaraz in the men's doubles at the Games, could do so again at the Davis Cup Final 8 in Malaga over Nov 19-24.

"Emotionally, I'm sure I'll be ready," the 38-year-old. "Physically and in terms of tennis level there is a month left to prepare. If I don't feel ready for the singles I'll be the first one to say (it) and let's see if I can help in some way."

Nadal said Alcaraz was doing well in his career and did not need much advice from him.

"He has a great team, a great family," he added. "He's going to do very well with what he's got. He's learning all the time.

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"We can see he's developing in every way. But of course I'll be ready whenever he wants to call me."