German Olympic Sports Association Will Hold Majority Stake In Olympic Bid Corporation

The German Olympic Sports Association (DOSB) "will, as expected, take over the majority stake of the Olympic bid corporation for the 2024 Games," according to Kathrin Hartmann of SPONSORs. The bid company "will be officially founded on Thursday." The DOSB will take over 51% of the company, with the city of Hamburg and the German government holding a further 26% and 18%, respectively. Three more shareholders with distinctively lower stakes are the city of Kiel and the state of Schleswig-Holstein with 2% each as well as Hamburg's Chamber of Commerce with 1%. What this distribution means for the company's operative business "is not yet known." The 27-member supervisory council of the bid corporation will be made up of 13 DOSB members, six from the city of Hamburg, five from the federal government and one each from the state of Schleswig-Holstein, city of Kiel and Hamburg's Chamber of Commerce (SPONSORs, 6/17).