Hoeness era ends at Bayern Munich as turnover tops 750 million euros

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MUNICH, Germany (Reuters) - Uli Hoeness, Bayern Munich's president who revolutionised German football management but was also jailed for tax evasion, stepped down on Friday, handing over the reins of the country's most successful club to former Adidas CEO Herbert Hainer.

With a record turnover topping 750 million euros for 2018/19, Hoeness is leaving the club in stellar financial health, having taken over a struggling club in 1979 as general manager and turning it to a global brand.

"It worked well here. I won almost everything that could be won." he told a packed indoor arena after a minutes-long standing ovation. Bayern's annual turnover for 2018-19 topped 750 million euros, up from 657.4 million euros the previous fiscal year.The 1974 World Cup winner, Hoeness, served the club as a player from 1970-1979 and took over as general manager, and later president, immediately after his playing career was cut short by injuries.

Hoeness, 67, was reelected in 2016 after being jailed for multi-million euro tax evasion, a crime he admitted to German judges.

 

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