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Court Orders Bayer Leverkusen To Pay Back $20M In Sponsorship Money From '09-11

Bundesliga side Bayer Leverkusen "will suffer a huge financial blow," according to the SID. In the lawsuit against Bayer's former shirt sponsor Teldafax, the Cologne District Court "decided that the club will have to pay back" around €16M ($20M) of sponsorship payments from '09-11 plus interest "to the creditors of the insolvent low-cost energy provider." Leverkusen "confirmed a corresponding report on Wednesday." The total is expected to be around €18.5M ($23M). Teldafax administrator Biner Bähr "sued the club for payment because the club's management allegedly knew early on of the company's financial troubles but continued to insist on sponsorship payments." Teldafax filed for bankruptcy in the fall of '11. The company left a debt of €500M ($632M) and around 700,000 affected customers (SID, 10/22).

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