Cádiz seeks Nasdaq leg-up for Sportech City

Article posted by Coliseum, February 21^st, 2025

Image: Cádiz Club de Fútbol

The Segunda División club Cádiz CF (Spain) is planning to list a US subsidiary Nomadar on the American stock exchange Nasdaq for an initial injection of capital as a shot in the arm to its Sportech City project.

Spearheading the Nomadar venture will be the US financial technology and brokerage company Clear Street and will be majority-owned by the Cádiz CF.

‘2Playbook’ stated that the LaLiga HyperMotion (Segunda División) has got the ball rolling and has launched a US subsidiary Nomadar and will place up to 34.5 percent of the subsidiary that will channel the above project with the goal of raising €123m (£102.5m/$127.5m) with a strong commercial component on the stock exchange specializing in technology stocks in New York (US) to finance the leisure and sports complex it wants to build in Puerto de Santa María in the Province of Cádiz in Andalusia, Spain.

Nomadar has already filed its prospectus with the U.S. Securities and Exchange Commission (SEC) for placement on the Nasdaq which will not be carried out through an initial public offering (IPO) but rather a direct listing.

The Cádiz CF is a Spanish professional football club based in Cádiz, Andalusia (Spain). Founded in 1910, the club competes in the Segunda División (the men’s second professional association football division of the Spanish football league system) holding home games at the Nuevo Mirandilla Stadium with a seating capacity of 20,724.

The 20,724-capacity Nuevo Mirandilla is a football stadium in Cádiz, Spain. The stadium is the home ground of the Cádiz CF. The stadium was originally inaugurated as the Estadio Ramón de Carranza on September 3rd, 1955. It has since then been completely rebuilt twice.

The National Association of Securities Dealers Automated Quotations (Nasdaq) Stock Market is an American stock exchange based in New York City. It is the most active stock trading venue in the United States by volume and ranked second on the list of stock exchanges by market capitalization of shares traded behind the New York Stock Exchange (NYSE).

The New York Stock Exchange (NYSE) is an American stock exchange in the financial district of Lower Manhattan in New York City. It is the largest stock exchange in the world by market capitalization exceeding $25 trillion in July 2024.

Washington, D.C., (US)-based the U.S. Securities and Exchange Commission is an independent agency of the United States Federal Government created in the aftermath of the Wall Street crash of 1929. Its primary purpose is to enforce laws against market manipulation.

The Campeonato Nacional de Liga de Segunda División, commonly known as the Segunda División and officially known as the LaLiga HyperMotion for sponsorship reasons, is the men’s second professional association football division of the Spanish football league system.

‘2Playbook’ further stated that the project is evolving and Nomadar will have a much broader corporate role to play. The project will have a long execution period and it is reported that there will be gradual entry of investors and the inauguration of the facilities will take place in 2030.

Remarked Rafael Contreras, Vice-President of Cádiz CF, “We are building a long-term sustainable business model and we will rely heavily on digitalization and artificial intelligence (AI) to transform the modus operandi of the club and to secure the club’s future.”

The Sportech City project, which was first unraveled in the year 2023, will be developed over 110,000 square meters of land in the Province of Cádiz with a 40,000-seat arena to be so designed to facilitate the holding of concerts and sporting events and it could also serve as a new home field for the club. Skirting it will be a huge leisure area along with a gym and a spa, a convention center, a hotel, a sports clinic, 56 shops primarily selling luxury and sports items, and 17 restaurants.

Cádiz CF has committed up to 10 million dollars (9.7 million euros) to finance the operations of its new subsidiary Nomadar while it waits for investors in the United States to inject capital. Specifically, it will contribute 5.5 million dollars (5.3 million euros) in three tranches in 2025 and another 4.5 million dollars (4.3 million euros) in 2026 depending on how the placement of shares evolves.

In addition to the 123 million dollars it hopes to raise from the sale of shares, the Cádiz CF also plans to obtain approximately 162 million euros (approximately 176 million dollars) in external financing in the form of bond issues, investment funds and bank loans which it would initiate gradually between 2027 and 2031.

In order to gain the trust of the American investors the Cádiz CF has signed Peter Moore who was the head honcho of the Premier League team Liverpool F.C. between 2016 and 2020 as a member of Nomadar’s Board of Directors.

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