Ribery was linked with Real Madrid, Manchester United and Chelsea earlier this summer.
Hoeness admits the club club have sold Ribery for the right price.
He told Sport Bild: “Internally we said yes, from 100m euros we’ll deal. Also that was a defensive measure. We did not think anyone would pay that. We wanted to keep Franck.
“One week before the expiry of our internal deadline we said that to him personally. Therefore he knew that interested clubs still had a week to offer the 100m euros.”
“Someone said to me there would be an offer of 100m euros coming – but not from Real,” he added.
“I had a very bad day. I felt an emptiness in myself, because I had the feeling – now Franck is gone.
“In the evening it emerged that it was a misunderstanding. They wanted to include three players in the sum. When I had heard that I was really happy.”
