(CNN) -- When Karl-Heinz Rummenigge speaks, you listen. And his advice, if you want to be the best club in the world, is: Never, ever sell your best players. "I believe a very important point in our history came in 2008," Rummenigge, a legend in German football and executive board chairman of the all-conquering Bayern Munich, told CNN. "We received big offers from England and Spain for the transfer of Franck Ribery to big clubs and we decided not to accept," added the 58-year-old, referring to an official bid from Chelsea and an inquiry from Real Madrid for the player who had cost Bayern $40 million in 2007.
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Bayern Munich chairman Karl-Heinz Rummenigge opens up to CNN
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Reveals his fears that German team would slip from football elite
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He says club's refusal to sell Franck Ribery was pivotal moment
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Bayern on course for record 24th Bundesliga title and European defense
@placeholder -- who played in the 1976 success and was an unused substitute in the previous year's final -- was all too aware of Bayern's precarious position.