La Liga champions FC Barcelona have announced the formation of a new company to manage their retail, licensing and merchandising rights.

Barça Licensing and Merchandising (BLM), which is wholly owned by the Spanish soccer outfit, will take charge from the 2018/19 season.

Barcelona’s merchandising rights have been managed for the past 16 years by FCBMerchandising, a company owned by Nike. That contract is due to expire on 1st July.

The side say that the new approach “pursues several objectives: greater economic profitability, direct control of the brand, the possibility of offering our fans a 100 per cent Barça experience, and a boost to innovation and new technologies.”

Barcelona’s current merchandising business consists of three of their own stores, 15 licensed stores, 328 licensees, and over 250 workers. According to the club, there are more than 7,000 products contributing to an annual turnover of around €65 million.

Barcelona claimed their third title in four years when they finished the 2017/18 La Liga season as champions.