Bayern Munich President, Uli Hoeness has resigned as he decided not to appeal a jail sentence for tax evasion but decided to stepped down from key roles at the reigning German and European champions Bayern Munich.
Germany and Bayern legend, Uli Hoeness, who resigned from his post as president and board chairman, was found guilty by a German court Thursday and sentenced to three years and six months in jail.
Hoeness was found guilty of evading taxes worth £22.5m (27m euros).
"After discussing the matter with my family I have decided to accept the judgment passed by Munich District Court (Landgericht) II regarding my tax affairs," he said in a statement released on the Bayern Munich website.
"Evading tax was the biggest mistake of my life. I accept the consequences of this mistake," he continued.
"Furthermore I hereby resign the offices of President of FC Bayern München e.V. and chairman of the FC Bayern München AG supervisory board with immediate effect." Hoeness said
In the wake of Hoeness' resignation, Bayern has appointed Adidas chief executive, Herbert Hainer as the club's new chairman.
Hainer, 59, was previously deputy chairman at the German champions and his appointment was unanimously approved by the Bayern board.
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