Bayern reacted furiously to last season's fourth place in the Bundesliga - and missing out on a Champions League place - by splashing out 69 million euros to bolster their side for the rapidly approaching new season.

Players of the calibre of French midfielder Franck Ribery, Italian World Cup winner Luca Toni and German striker Miroslav Klose, the top scorer at last year's World Cup, were brought to Munich to launch the hunt for silverware.

Bayern claimed the first trophy of the season when they won the German League Cup in Leipzig last weekend with a 1-0 win over Schalke 04 and Hoeness told German on-line magazine Stern he wished he'd spent sooner.

"During the League Cup last week I was thinking to myself about how stupid I was for not spending the money sooner," he said.

"I look back now and remember how angry I was at times last season compared to how much I enjoy watching football now. We should have done this a lot sooner.

"It would have improved my own quality of life," he added after watching France midfielder Franck Ribery, who cost Bayern 26 million euros; score three goals in two League Cup matches.

Hoeness said good business sense goes out the window in football, where fans and club's board members want to see spectacular results, whatever the cost.

"The people don't want a serious businessman anymore who makes sure the books are in good order. They would rather see the spectacular. They want big names; they want entertainment.

"For a lot of people it doesn't matter if we make a profit or lose money. It's only important that the team play attractive football.

"But that scares me a bit too because if that is the long term policy, that's dangerous."