Devesa advises on Intercity SAD Football Club’s contract with Legends

CF Intercity SAD has signed an agreement with Legends, a renowned global company specializing in premium events, to carry out the research and creation of the business plan necessary to build a multifunctional sports venue in Alicante. This space will be designed to host both sporting and musical events, becoming an important economic engine for the province and the Valencian Community.

The project envisages the construction of a multifunctional venue that will include concert facilities and a soccer stadium, which will be the official home of CF Intercity’s matches. In addition, Legends will conduct market studies and assess the feasibility of the project to ensure its development. This agreement marks the beginning of the creation of a reference center for sports and entertainment in Alicante, which will also include additional training grounds.

Legends has twelve weeks to complete the business plan, which will include the design of the venue, 20-year financial projections and a detailed analysis of local market conditions to determine its viability.

For its part, the board of directors of CF Intercity is in advanced negotiations with several investors interested in financing the project and is also working on the acquisition of the necessary land in Alicante. Legends has a first right of refusal for the development and management of this multifunctional sports complex. The construction and operation of this complex will ensure the future economic stability and sustainability of CF Intercity, providing stable income over the long term.

The Devesa team, led by partners David Devesa and Juan Antonio Botella, has advised Club de Fútbol Intercity SAD in this operation, reviewing and advising on all contracts arising during the project. Devesa has already advised Club de Fútbol Intercity SAD in its IPO, the first of a soccer club in the history of Spain, in 2021.