German Government Supports Hamburg's 2024 Olympics Bid With $33M

The German government "will support Hamburg's bid for the 2024 Olympics" with €30M ($33.4M), according to Kathrin Hartmann of SPONSORs. The government will support the bid with a total of €30M between '15-17. The first €10M ($11.1M) will reportedly be provided this year. The additional €20M ($22.3M) will be allocated during the next two years. The government's subsidy is higher than previously expected. Media reports "expected the government to provide only a third of the actual sum in support of the bid." As a result of the increased government support, the bid committee "has already collected more than half" of the estimated €50M ($55.7M) for the Olympic bid. German Olympic Sports Association (DOSB) President Alfons Hörmann: "This decision is a valuable tailwind for the project" (SPONSORs, 5/21).