Bayern Munich president Uli Hoeness has announced he is stepping down with immediate effect, a day after a Munich court convicted him for evading more than €28 million in taxes.
A statement to this effect was published on the club's website on Friday.
“After talking with my family I have decided to accept the judgment of the Munich court regarding my tax affairs.”
"I have instructed my lawyers not to appeal. This corresponds to my understanding of decency, conduct and personal responsibility. Tax evasion was the mistake of my life," the statement read.
"In addition, I resign with immediate effect from the offices of president of FC Bayern Munich and chairman of the supervisory board of FC Bayern Munich. I want to avert harm from my club.
"Bayern Munich is my life’s work and it will remain so. I will stay connected to this great club and its people in other ways as long as I live.
"I thank my friends and the fans of Bayern Munich from the bottom of my heart for their support."
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