Announcing his resignation after an emergency meting of the DFB's standing committee in Frankfurt, Niersbach denied any involvement in an alleged transfer of 6.7 million euros to the FIFA from a secret account of the DFB in early 2005.
He issued a statement saying that as a member of the World Cup 2006 Organizing Committee in charge of marketing, media accreditation and events organizing, he had worked correctly and responsibly and he has nothing to hide.

However, it was mentioned in the statement that he is resigning to take the 'political responsibility' for the charges made against Germany's apex football body and to limit the damage to its President's office.
Niersbach, who took over as the DFB President in March 2012, said that it was painful for him to be confronted with a past issue in which he was not involved at that time and leaves many questions unanswered also for himself
He reiterated his position that he had absolutely no knowledge of the background of the flow of funds that are currently being investigated.
DFB announced that Niersbach will be succeeded by current Vice Presidents Reinhard Rauball and Rainer Koch.
Niersbach has been under pressure to step down since the allegations of 'vote buying' from the FIFA Executive Committee members for Germany's candidacy emerged in October.

Latest News from Sports News Desk