Nike (NKE) announces the sale of its Umbro affiliate brand to Iconix Brand Group (ICON) for...

|About: Nike Inc. (NKE)|By:, SA News Editor

Nike (NKE) announces the sale of its Umbro affiliate brand to Iconix Brand Group (ICON) for $225M in a deal slated to be completed by the end of 2012. The sale was widely anticipated after the company announced last May its intention to divest the brand.