Iconix Brand Group has announced the completion of its acquisition of Umbro and the related intellectual property assets from Nike for $225 million in cash. Iconix funded the takeover through a previously announced $600 million securized financing facility. Umbro took its name from Humphrey Brothers Clothing, a company founded in 1924 by two brothers, Harold and Wallace Humphreys. Besides its own lines of football garments, the company acted as the distributor of Adidas in the U.K. between 1961 and 1986. Nike acquired Umbro in October 2007 for £285 million (€382 million or $567 million at the exchange rate of the time) from a variety of shareholders, including Sports Direct International and JJB Sports, to further expand its reach in the football market. Nike took over the sponsorship of the Brazilian football team from Umbro in the 1990s. After its acquisition of the brand, it took over other juicy endorsements including, most recently, the English football team.

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