Hoeness tears as Bayern results at 113-year high

Wed Nov 13, 2013 4:59pm EST
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By Karolos Grohmann

BERLIN (Reuters) - Bayern Munich president Uli Hoeness, facing trial for tax evasion next year, broke down in tears as the club posted their best financial results in 113 years.

In a festive annual general assembly, Hoeness, who received several standing ovations, could not hold back his tears as club bosses heaped praise on him following a treble-winning season.

Turnover stood at 393 million euros ($526.80 million), up from 332 million ($445.03 million) in 2011-12.

When turnover for the Allianz Arena Stadium Ltd was taken into account, the treble-winning club's figure cracked the 400 million euro mark for the first time and stood at 432.8 million($580.15 million), Bayern said at their annual general assembly in Munich.

With chants of "Uli, Uli" in support of Hoeness, who is charged with failing to pay taxes in relation to a Swiss bank account, some 4,000 members in the Audi Dome arena gave the board a vocal seal of approval after a record-breaking season.

Hoeness, at the club for more than 40 years as player, manager and president, addressed his legal woes, saying he had made a mistake in relation to a Swiss bank account.

"I made a big mistake by not having investment income abroad taxed. I did not take hundreds of millions out of the country," said Hoeness, after wiping away tears. "I will face this mistake."

Hoeness, who enjoys the board's backing, said he would call an extraordinary general meeting after the end of his trial to see whether members still wanted him to stay in charge.   Continued...