Cádiz Club de Fútbol files for the partial spin-off of its assets

Cádiz Club de Fútbol SAD has filed the partial spin-off project of the company in favor of Sport City Cádiz SL, according to the publication of the Official Gazette of the Mercantile Registry (BORME) on Tuesday, October 6, 2026. The announcement, corresponding to issue number 193 of the gazette and page 46823, is limited to confirming the filing of the project, dated August 19, 2026, and identifying the beneficiary company. The operation appears in the First Section (Entrepreneurs), within the “Other acts published in the Mercantile Registry” section of the province of Cádiz.

The announcement is published under the heading “Deposits of partial spin-off projects,” with order number 600 and official reference BORME-B-2026-193-11. A partial spin-off is the operation by which a company segregates one or several parts of its assets—each forming an autonomous economic unit—and transfers them as a block to another company, without the spun-off company being extinguished.

The filing of the project is not the first trace of the operation in the gazette. The BORME of Wednesday, September 9, 2026 (number 174, page 43073, reference BORME-B-2026-174-11) already noted, in the “Web Insertions of Projects” section, that Cádiz Club de Fútbol SAD had published a partial spin-off project on its corporate website (www.cadizcf.com) with an insertion date of August 19, 2026.

Sport City Cádiz, a wholly-owned company

• Sport City Cádiz SL is a sole proprietorship whose sole shareholder is Cádiz Club de Fútbol SAD, according to the registration published in the BORME on March 26, 2025 (reference 143069, registration data S 8, H CA 59567, I/A 7, of March 19, 2025).
• Its registered office is located at Portugal Street, 2, Polígono Industrial El Trocadero, 11519 Puerto Real (Cádiz).
• Previously, the sole shareholder of the company was Gades Sports Technology Industry FCRE, according to the BORME of December 20, 2022.
• The BORME of September 30, 2026 (reference 435599, registration data S 8, H CA 59567, I/A 8, of September 23, 2026) records the reelection of DAL Auditores SL as auditor and the creation of the corporate website www.sportechcadiz.com.

An operation simultaneous to the capital increase

The filing of the project coincides in time with the club’s ongoing capital increase. The General Meeting of Cádiz Club de Fútbol SAD on October 16, 2023, delegated to the Board of Directors the authority to agree on increases through monetary contributions with preferential subscription rights, up to half of the share capital and for a maximum period of five years.

The Board, at its meeting on July 31, 2026, executed that delegation with an issuance of 2,747,900 shares with a nominal value of one euro and an issuance premium of 1.402925 euros per share, which brings the effective amount of the operation to 6,602,997.6075 euros. The increase is structured in three rounds:

• First round (preferential subscription right): closed on September 24, 2026, with 2,091,584 shares subscribed, numbered from 8,495,853 to 10,587,436.
• Shares not subscribed in the first round: 656,316, numbered from 10,587,437 to 11,243,752.
• Second round: two business days starting from the day following the publication of the announcement in the BORME.
• Third round: discretionary allocation, with the commitment of Make Mark SL and Capriglobal Investments SL to jointly and severally subscribe to the uncovered shares.

The announcement of the second round was signed in Cádiz on September 24, 2026, by the Chairman of the Board of Directors, Karl Christian Septien Stute. Additionally, the BORME of May 13, 2026 (reference 2149) published a capital increase through debt-to-equity swap of 7,208,775 euros—3,000,000 in capital and 4,208,775 in issuance premium—derived from the nullity of the three-million-euro capital increase approved at the Extraordinary General Meeting on December 26, 2020.

What it implies for shareholders and fans

The BORME announcement is limited to confirming the deposit of the project and identifying the beneficiary company: it does not detail the segregated assets, their valuation, nor the execution schedule of the spin-off. The relevant piece of data for readers is that the company receiving the segregated assets is already wholly owned by the club, so the restructuring takes place within the corporate perimeter that Cádiz Club de Fútbol SAD already controls.

Furthermore, the operation comes at a time of financial and sporting tension: the club itself justified the capital increase based on the need for a “definitive equity strengthening” after three consecutive seasons in the top division and an 18th place out of 22 in the 2025/2026 season, and to improve its registrable squad cost limit before the League. For shareholders and fans, the deposit of the partial spin-off project is, therefore, the first official record of a corporate reorganization moving forward in parallel with the entry of new funds.

Source: Official Gazette of the Mercantile Registry, no. 193, October 6, 2026, First Section (Entrepreneurs), page 46823 (official reference: BORME-B-2026-193-11).