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SearchThe club is studying two paths to leave Spain: a global master franchise or regional alliances. The subsidiary BLM, which generates 208 million euros in revenue, aims for 300 million in 2031-2032 while avoiding the mistakes of other clubs in their physical expansion.
The FC Barcelona has initiated a process to find partners to take its physical store network beyond Spanish borders. Through its subsidiary Barça Licensing & Merchandising (BLM), the club is evaluating two main models to execute this expansion: signing a global master franchise agreement with a single partner or establishing alliances with regional partners in strategic markets. This initiative seeks to complement the current growth, which to date has focused on the domestic market and e-commerce.
According to information revealed by El Economista, the entity presided over by Joan Laporta rules out financing this leap exclusively with its own resources due to the financial situation the club is still facing. The objective is to find an ally with experience in the retail sector that facilitates the implementation of the brand in new geographies.
The first scenario contemplates a worldwide master franchise contract, which would allow the brand to be extended uniformly in all markets. The second model proposes a more segmented approach, distributing the map among partners by country or region. This second option would allow leveraging the local knowledge of firms that know the specificities of each zone, reducing operational risk.
The club is aware of the risks associated with international physical expansion. Within the board of directors, there is a clear intention to avoid the mass closures that other football teams have suffered when attempting similar projects without a solid strategy or adequate capital. Therefore, the selection of the partner is based on financial solidity and commercial experience, not just interest in the brand.
Although the focus is on the exterior, the plan does not rule out growth in Spain. The club plans to open between four and five more stores in the coming years, distributed between Barcelona and tourist destinations, such as coastal areas or Madrid. Currently, of the 25 stores owned by BLM, 24 are in Spain and one in Georgia. In addition, work is underway on the opening of a third-party operated point of sale at Istanbul Airport.
BLM has consolidated itself as one of the club's main business lines. The subsidiary has experienced a significant jump in its revenue, going from around 60 million euros in 2018 to exceeding 200 million euros in the last campaign. This growth has been achieved mainly thanks to the boost from e-commerce and the renegotiation of the contract with Nike two years ago, which allowed the club to sell worldwide via the internet and bet more on its own brand.
Despite this progress, 70% of the revenue still comes from garments made by the American multinational. BLM's objective is to reach 300 million euros in revenue for the 2031-2032 season. The company is profitable, with a net profit of 20 million euros in the 2024-2025 fiscal year, according to Commercial Registry data.
The importance of BLM for the club was reflected in a valuation carried out by one of the Big Four, which estimated the total value of the subsidiary at nearly 800 million euros. However, the treasurer of the board of directors, Ferran Olivé, clarified that this valuation aims to provide transparency on the value of the asset, but does not respond to an immediate divestment intention. The club has no intention of selling 49% of BLM, an option that was allowed by the Assembly in 2021 but which was not part of Laporta's financial "levers".
This strategy is framed within the club's institutional philosophy, summarized by Laporta: "Barça is not a company, it is a global institution". The management of assets such as BLM, television rights, or VIP seats seeks to strengthen the team and the club, maintaining its status as an entity owned by its members. The club forecasts revenue of 1.450 million euros for the 2030-2031 season and an EBITDA of up to 370 million euros in five years, with the objective of leaving behind the red figures recorded in recent seasons, such as the 18 million euros in losses for 2025-2026.
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