Payment of three million euros
Schalke 04 sues former sponsor
February 12, 2024, 4:13 p.m
According to the club, a former sponsor of the financially struggling Schalke 04 football club has committed to covering the missed payment of another supporter. But he sees this differently because certain conditions did not occur. Now the million dollar case is going to court.
Second division soccer team FC Schalke 04 has sued its former sponsor Whitefield Landbanking Fund at the Berlin district court for non-payment of almost three million euros. This is about a sum that the club was supposed to receive from another sponsor (Harfid construction company), but which ran into financial difficulties. This was reported by the “Handelsblatt”. The court confirmed the hearing date on March 27 and receipt of the statement of claim in July 2023.
“In the case 26 O 234/23, the plaintiff asserts payment claims against the defendant by means of a documentary process due to non-payment of remuneration claims from an advertising partner contract after an assumption of debt in the amount of 2,975,000.00 euros,” the regional court announced. “According to the plaintiff’s statement, the defendant is said to have undertaken to take over the outstanding claims from the plaintiff’s advertising partner contract with another contractual partner,” it continued.
Whitefield believes the lawsuit is without merit. “Since the shares of Harfid Holding could never come into the possession of Whitefield, Schalke was informed that Whitefield would not fulfill this obligation from Harfid,” a company spokesman told the newspaper. The total liabilities of the financially troubled Bundesliga relegated team amount to around 165 million euros.