The UK sports label Umbro PLC ( accepted an offer by global giant Nike ( a cash sum of 193.06 pence per share, valuing the company at $404.9 million.

The motive behind Nike’s acquisition is the fact that the takeover will strengthen Nike’s global profile as the leader in providing football products. Today, Nike’s revenues from football are $1.5bn, a figure that the corporate giant hopes to increase.

Umbro’s future earnings depend on the result of the England football team, for which Umbro is designing under contract. Should the England team not make it into next year’s tournament, Umbro will loose up to $30 million as a result of lost sales of replica football goods.