The first Spanish club to go public is not discouraged by being last in third-tier Primera RFEF and continues its ambitious plan to build a multifunctional stadium in Alicante. After securing the rights to purchase a plot of land, it now has a preliminary design of the stadium and an economic study of the investment.

CF Intercity wants both football and concerts

Before the end of March Intercity fans will know both the design of their new stadium, prepared, according to Alicante Plaza, by the Subarquitectura studio, and the financial analysis, prepared by Legends. The venue, which will be called Alicante Park, will hold 20,000 fans. It will host sporting and musical events, explains the club, which intends to turn the stadium into the economic centre of the city.

Despite being bottom of the third-tier Primera RFEF, Intercity, known for being the first club in Spain to be listed on the stock exchange, claims that the project is backed by 20-year financial projections and an analysis of local market conditions. Following the announcement the value of its shares increased fourfold in just three days, from 10 to 45 cents.

Intercity announced at the end of January that it had acquired an irrevocable option to purchase a 100,000 square metre plot of land in Rabasa, in the north of the city. According to the entity's president, this location - 15 minutes both from the airport and the city centre - is strategic and will allow investment in a first-class stadium and sports facilities.

Intercity will give details of the project in a matter of days.