Umbro accepts a purchase offer from the American company Nike

The offer amounts to $580 million

British sportswear manufacturer Umbro, supplier to the English national football team, confirmed today that it has accepted a $580 million takeover bid from US giant Nike.

For Nike, the agreement represents an opportunity to "significantly expand" the company's presence.

In addition to being responsible for the uniform of the English international players, Umbro is the brand that manufactures sportswear for six of the English League football teams.

The Manchester-based firm (in northern England) had indicated last month that sales of England shirts had been "disappointing," as analysts are concerned about the possibility that England will fail to qualify for next year's European Championship.

In addition to supplying the English national team with official jerseys, Umbro also provides the uniforms for the Republic of Ireland, Northern Ireland, Norway and Sweden, and in the Scottish League, it is responsible for the sports jerseys of the Rangers and Hearts teams.

Following the agreement reached today, Umbro shareholders will receive 193,06 pence per share.

The chief executive of the English firm, Steve Makin, said it was an "excellent deal" for shareholders.

"We will be stronger and do better business as part of Nike, and this agreement will allow us to accelerate our existing growth strategy," he said.

Last Friday, retailer JJB Sports acquired 10,1 percent of Umbro's shares.