Hoeness steps down as Bayern Munich president following conviction
MAR 14, 2014 6:57a ET
Uli Hoeness has stepped step down as President of Bayern Munich and says he has decided not to appeal against his conviction for tax evasion.
Hoeness, one of the most prominent figures in German football, was sentenced to three years in prison after being convicted of evading millions of euros in tax through an undeclared bank account.
Hoeness said in a brief statement posted on Bayern's website that he decided after talking with his family to accept the verdict and he instructed his lawyers not to appeal.
The former West Germany international handed himself in to authorities earlier in March after confessing to evading 18.5m euros in taxes by hiding his income in various Swiss bank accounts.
Prosecutors had initially been targeting a five-year sentence, half of the maximum punishment for major tax fraud under German law.