BERLIN: Bayern Munch president Uli Hoeness is threatening to sue a German magazine over allegations that he had stashed away in Switzerland far more than the sums declared in his tax case writes KEIR RADNEDGE.

A report in Stern has suggested that Hoeness had banked sums totalling 500m Swiss francs. Stern had quoted an anonymous informant from within the Munich court authorities.

Hoeness, 61, took time out from Bayern’s charity golf day to deny these “outrageous allegations”. He said his Hamburg lawyer, Michael Nesselhauf, had been instructed “to take action against this madness.”

Stern alleged that revenues passing through his account at the Zurich Vontobel Bank totalled more than 500m Swiss francis and that substantial sums had been directed on to numbered accounts at three other Swiss financial instruments.

Both allegations have surfaced in the past and been refuted by Hoeness who has complained that sensationalist reports have exposed him to death threats as well as other abusive and threatening e-mails and letters.

Early this year Hoeness revealed undeclared income in a Swiss account to the German tax authorities. A decision from Munich Court II is expected next month on whether he must face formal charges.