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Bayern Rejects Hoeness' Resignation
ESPN FC, May 7th, 2013 12:23PM

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TAGS:  germany, soccer business

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Bayern Munich has turned down President Uli Hoeness’ offer to resign due to the ongoing tax evasion investigation into his finances. Last week, the 61-year-old indicated that he would leave his post if it were for the good of the club, but after an emergency meeting of the club’s management, at which Hoeness formally tendered his resignation, the Bayern board rejected his offer.

"After intense discussion, the advisory board of FC Bayern Munich AG decided unanimously that Uli Hoeness should continue in his position of president,'' the club said in a statement, which added that the decision to turn down his offer to resign was made "in the interests of FC Bayern, who need to concentrate fully on reaching further sporting goals with the Champions League final on 25 May and the German Cup final on 1 June."

In April, Hoeness revealed that he had not declared taxes on a Swiss bank account, which he used to gamble on the stock market. The exact amount that he neglected to pay has not been made public.

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