Bayern's Hoeness replaces Beckenbauer as president

Bayern Munich's Uli Hoeness ended his successful 30-year career as club manager on Friday to replace Franz Beckenbauer as president.

Hoeness, a former Bayern player in the 1970s who also won the 1972 European Championship and the 1974 World Cup with Germany, was elected at the club's annual general meeting in Munich amid roaring applause.

Beckenbauer, captain of the hugely successful Bayern and Germany teams in the 1970s and who also coached Germany to their 1990 World Cup victory, becomes honorary president in a move announced a year ago.

Long regarded as the person who revolutionised soccer marketing in Germany when he took over in 1979, Hoeness said the club's finances were as healthy as ever.

"My successors have a golden future as we are financially independent," the 57-year-old Hoeness told the meeting. "Which other top club can claim that?"

Hoeness joined Bayern as a gifted 18-year-old attacking midfielder and in a hugely successful eight-year spell won every single major title for club and country, including three German championships and three European Cups.

When he took over as manager in 1979, the Bavarian club was in debt.

He leaves his position having steered Bayern to unprecedented financial growth and having seen them crowned German champions 16 times since 1979. They also won the 2001 Champions League.

Hoeness helped engineer the club's successful sponsorship and marketing plans as well as the construction of their 69,000-capacity Allianz Arena, which belongs to Bayern.

As a going-away present Hoeness sealed a €90 million deal with German car maker Audi on Thursday for the purchase of 9.09 per cent of the club's shares.

Testimonial

In the meantime, Franz Beckenbauer is to be honoured with a belated testimonial match by his former team 33 years after his departure. The 64-year-old Beckenbauer left Bayern in 1977 for the New-York Cosmos, but no farewell match was held to mark his departure.

This oversight will be rectified in August 2010 when Bayern play Real Madrid at the Allianz-Arena, when Beckenbauer will be named honorary captain of the German club.

Beckenbauer played 427 first division matches and scored 60 goals for Bayern between 1964 and 1977. He won four Bundesliga titles, four German Cups and three European titles with the club.