Hoeness steps down as Bayern president

Uli Hoeness bid farewell as Bayern Munich president on Friday, bringing to an end an association with the club that has lasted almost half a century.

Hoeness shed a few tears as some 9,000 members gathered at the annual meeting in Munich's Olympic Arena gave the 67-year-old a standing ovation.

Former Bayern greats Arjen Robben and Franck Ribery presented the Bundesliga and German cup trophies from last season's double, and basketball division official Marko Pesic the national title trophy.

"You have given me wonderful years," Hoeness told the club members who later in the evening elected former Adidas chief Herbert Hainer as new president.

Hoeness was a Bayern player between 1970 and 1979, was then general manager for 30 years until 2009, and president since 2010, although this was interrupted for a spell when he was sent to prison for tax evasion. He won every title as player or official, including five Champions Cups/Leagues and 23 Bundesliga titles.

Hoeness did not run for the presidency again but will see out his term as ordinary member of Bayern's supervisory board until 2023. The former striker started as general manager 40 years ago when Bayern were in financial trouble with revenue of 12 million marks (7 million dollars) and debts of seven million marks.

In the latest figures for the 2018-19 season, Bayern recorded record turnover of 750.4 million euros (830 million dollars), up from 657.4 million euros in the previous season. Bayern's profit after tax was given at 52.5 million euros, up from 29.5 million.  

Hoeness departure starts the reshuffling at Bayern's top leadership. Chairman Karl-Heinz Rummenigge, another former playing great, is to leave in 2021, giving way for former goalkeeper Oliver Kahn, who wil join Bayern's board next year.

mds (dpa/reuters)