Umbro heads for flotation goal

UMBRO, manufacturer of the England soccer strip and maker of the boots that Michael Owen wore when he scored that hat trick against Germany, is to float on the stock market after the World Cup.

The 80-year-old, Manchester-based company could come to the market as early as the autumn and some believe the business, which has global sales of £350m a year, could be worth up to £300m.

If that is the case, it will represent a handsome return for Doughty Hanson, the venture capitalist that bought Umbro nearly three years ago for £90m. The firm's greatest asset is arguably its link with the Liverpool striker Owen, for whom Umbro is said to be working on a pair of £4,000 golden boots for the World Cup this summer.

Umbro currently makes the shirts for Manchester United, but has lost that contract to Nike.