Following his announcement earlier this week that he will be ending his involvement with FK Austria Wien, Austro-Canadian billionaire Frank Stronach has now revealed he is severing his ties with the Austrian Bundesliga.

Stronach resignation
Stronach said in a statement on Thursday that he will resign his position as president of the Bundesliga following the league's annual general meeting on 2 December. The news follows recent criticism of Stronach's joint role as Bundesliga president and major investor in Austria, of whom he will end his financial backing in 2007.

Good progress
In a statement to all ten top-flight chairmen, Stronach, who has been president since 1999, said: "I wish you personally, your clubs, the Bundesliga and Austrian football all the best for the future. I think we made good progress during my time towards a successful future but it's the right time for me to go."

Pasching criticism
Stronach's decision has not been met warmly by all Bundesliga clubs, with Franz Grad, president of SV Pasching, saying: "This is not fair. I understand his decision to leave Austria Wien but it is not fair to say one week before our general meeting that you are going your own way."