Hoeness Resigns from Bayern, Will Not Appeal Sentence

Uli Hoeness has resigned from his position as President of Bayern Munich football club, after being sentenced to 3.5 years in jail for tax evasion.

The 62-year-old former World Cup winner will not appeal Thrusday's verdict, and has accepted his guilt, Euronews reports.

"After discussions with my family I have decided to accept the ruling of the Munich court on my tax affairs. This befits my understanding of decency, dignity and personal responsibility. Tax evasion was the biggest mistake of my life", Hoeness wrote in a statement for the club's website.

The German boss was found guilty of evading EUR 27.2 M in taxes, which he kept in secret Swiss bank accounts.