Bayern chairman says club's refusal to sell Ribery saved them from leaving 'world elite'

The chairman of German champions Bayern Munich has said that the club's refusal to sell French international Franck Ribery saved them from slipping away from world football's elite.

Back in 2004, the Bavarians finished second in the German Bundesliga and were knocked out of the UEFA Champions League in the last-16 by Real Madrid and since 2001, did not lift Europe's most coveted trophy, as teams from the English Premier League, Italy's Serie A and Spain's La Liga dominated.

According to CNN, executive board chairman and football legend Karl-Heinz Rummenigge said that a very important point in their history came in 2008 when they refused big offers from England and Spain for the transfer of Ribery, adding that from that point onwards, all clubs in Europe understood that Bayern is not a selling club.

Admitting that it could have been very different for Bayern had they sold players like Ribery, Rummenigge revealed his fears of being left behind by the continent's elite given that they had enjoyed glorious years in European Cup football between 1974-76, winning the title on three consecutive occasions.

Stating that he was aware of Bayern's precarious position, Rummenigge said that the new money flooding into European football also potentially threatened their status until they discovered the philosophy of being patient and buying good players, whom to intended to keep.

The report mentioned that Bayern has now become a European power to rival Barcelona and Real Madrid by attracting some of the world's top players.