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According to the German daily Bild and other media, the 67-year-old will also step down as chairman of the club's supervisory board following its annual general meeting to be held this autumn.
After 40 years at the head of Bayern, he will leave the scene. His successor, Herbert Hainer, former director of Adidas, would be his replacement.
Hoeness joined Bayern as a player in 1970. He retired nine years later to become the club's general manager. Since then, he has made a fortune since – except two years in prison for tax evasion, from June 2014 to February 2016.
The Bundesliga champions, who have just finished a tour in the United States, refused to comment at the request of confirmation from AFP SID's subsidiary.
"I've already said," It's not over yet! "But the day is not that far off when I say" It was over, "Hoeness recently told the club's" 51 "magazine.
The stars of Bayern were stunned by the reports.
"First of all, I was shocked, I was not prepared for that," acknowledged left-back David Alaba, following the 1-0 win over Tuesday on AC Milan in Kansas City.
"I think it's unimaginable for FC Bayern to be without him.
"No matter that he has a position at the club, he will still have influence."
Defender Joshua Kimmich was also shocked.
"I have not heard the bomb drop yet, when will he leave?"
After a knee injury that forced the West German international to retire, Hoeness became general manager in 1979 and 30 years later he was promoted to president of the club in 2009.
Since taking office in 1979, Bayern has enjoyed phenomenal success – winning the Bundesliga trophy 24 times, the 14-time German Cup and the Champions League in 2001 and 2013 .
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