According to Franciscan tradition the church was founded by King Matthias Corvinus: he held a national assembly in the garden of the monastery and presented his cloak to the Franciscans which was later reshaped into a chasuble. However, this proved to be a legend, as the king probably gave his chasuble to the Saint Demetrius Church which had once stood on the place of the present cathedral. It was only during the turkish occupation that the chasuble was removed to the Franciscans.
The name of the square was changed from Barátok tere (= friars’ square) to Mátyás tér (= Mathias square) because of this tradition. Also, the replica of the Bautzen relief was attached to the southern facade of the church by Kunó Klebelsberg.