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Betfair terminates German football sponsorship

5th March 2013 9:56 am GMT

German Bundesliga club Bayer Leverkusen and Betfair have agreed to the early termination of the sponsorship agreement between the two parties.

The two-year sponsorship agreement was signed in June 2012, days before the finance committee of the German parliament approved a bill that imposed a 5 per cent tax on all sports betting stakes.

The tax came into force on July 1st 2012.

Based on opinions received from its legal and tax advisors, Betfair maintained that it is [...]

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