NEW YORK (AP) — Nike has found a buyer for its Umbro brand, known for its soccer jerseys, in Iconix Brand Group Inc. The clothing licensing company is purchasing Umbro for $225 million in cash.

Nike Inc. had bought Umbro in 2008 for $582 million. The Beaverton, Ore., company had announced in May that it planned to sell the Umbro and Cole Haan brands to cut costs and focus on its namesake brand, along with Jordan, Converse and Hurley.

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