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Hoeness Steps Down, Declines to Appeal

  • WSJ.com, Friday, March 14, 2014 4:40 PM

Uli Hoeness on Friday stepped down as president of Bayern Munich and said he would not appeal the three-and-a-half year jail sentence that he received for tax evasion on Thursday. "I've instructed my lawyers not to appeal, this corresponds to my understanding of integrity, decorum, and personal responsibility," 62-year-old Hoeness said in a statement published on the club's Web site. The decision not to appeal means he will spend time in prison.

Following his decision to resign, Bayern appiointed Herbert Hainer as its new chairman. Hainer, 60, is also the CEO of athletics retailing giant, Adidas-Group. 

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