Ten Hag was sacked after just three games in charge at Bayer and his payoff is said to be €6m, says BILD.
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The pay out is said to be worth €100,000-a-day for the time Ten Hag led Bayer after the former Manchester United manager stepped in following Xabi Alonso's move to Real Madrid.
The decision to axe Ten Hag came after management were left convinced the Dutchman had failed to connect with both the players and long-term coaching staff.
Beyond the results, there was also concern inside the board room that Ten Hag had attempted to interfere with their summer market plans.