UK retail group JJB Sports has indicated its support for Nike's US$582m all-cash offer to acquire Umbro.

JJB, which owns 10.12% of Umbro, has entered into an irrevocable undertaking with Nike Vapor to vote in favour of the acquisition.

Roger Lane-Smith, JJB's non-executive chairman, said: "We believe that accepting Nike's cash offer for Umbro is in the best interests of our shareholders."

JJB added that the irrevocable undertaking would lapse in the event that a competing offer for Umbro was announced at a price of not less than 210 pence per Umbro Share.

Should the offer complete, JJB added that the proceeds of its sale will be used to reduce borrowings.