The Sportech City vision
Featured image credit: Cádiz CF
Cádiz CF has launched a US subsidiary with a wide-ranging remit that includes raising funds for its ambitious Sportech City project, engaging former Liverpool CEO, Peter Moore, as a board member amid plans to list on the Nasdaq stock exchange.
The Nomadar venture will be led by US financial technology and brokerage company Clear Street. It will be majority owned by Cádiz, which currently plays in the Spanish Segunda División following relegation from LaLiga last season.
Sportech City, a wide-ranging development that will include a year-round events centre and a 7,500-square-metre data centre, was first unveiled in October 2023. Cádiz CF is working with professional services firm KPMG on the project, which is designed to ensure the club’s long-term future in the city of Cádiz.
Scheduled to open in 2030, Sportech City plans to be anchored by a new 40,000-seat sports and entertainment venue that could serve as a new stadium for the club. The likes of a hotel, sports clinic, shops and restaurants are also planned.
Nomadar has already filed its prospectus with the U.S. Securities and Exchange Commission (SEC) for placement on the Nasdaq, according to Expansión, which will not be carried out through an IPO, but rather a direct listing.
Cádiz intends to place up to 34.5% of Nomadar, according to 2Playbook, with the goal of raising €123m (£102.5m/$127.5m) to help finance Sportech City.
Moore, who was CEO of Liverpool from 2017 to 2020, joining the Premier League club following a 10-year spell as a senior executive with Electronic Arts (EA), will be a member of the board of directors of Nomadar.
Rafael Contreras, vice-president of Cádiz CF, said in a statement: “This step represents the fulfilment of the Plan Impulso, betting on digitalisation, business intelligence and the use of artificial intelligence to transform the management of the club.
“We are not only securing our present, but we are also building a more innovative Cádiz CF with a sustainable business model in the long term.”
President Manuel Vizcaíno added: “With this strategy, we consolidate Cádiz CF as a financially strong club, capable of competing at the highest level without compromising its future.”
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