Hamburg Mayor Olaf Scholz said that Olympic Games in Hamburg would cost €11.2B ($12.6B) "if the northern German port city is elected 2024 host," according to Almut Kipp of the DPA.
The governing senate "presented its estimate at a news conference ahead of a referendum on the bid" scheduled for Nov. 29.
The figures "cover infrastructure as well as the actual Games budget." Scholz said that "the highest figures had been used rather than a low estimate, taking inflation and general rising costs into account." Scholz:
"These are the best calculated Olympic Games ever. Olympic and Paralympic Games will cost less than the (2012) Olympic Games in London."
The London Games cost some £8.9B ($13.5B) overall. Of the €11.2B, €7.4B ($8.35B) "would come from the tax payers" while Hamburg expects to generate €3.8B ($4.3B) from payments by the IOC, sponsors, ticket sales and merchandising. Scholz said that Hamburg will need €6B ($6.8B) from the federal government, with the issue to be finalized by February "when the first bid files have to be sent to the IOC." Hamburg itself would provide €200M ($225,000) per year.
Scholz: "I would not submit a bid if it would be too much for the city's financial strength." The bid "is backed by the nation's government" and Interior Minister Thomas de Maiziere said that 2024 Olympics "were more important for Germany than the European football championships the same year for which the country is also bidding" (DPA, 10/8).
VALUABLE TAILWIND: The SID reported German Olympic Committee (DOSB) President Alfons Hörmann "is hoping Hamburg's financial concept will provide 'valuable tailwind' for the public referendum." Hörmann: "With his figures, Olaf Scholz has provided the necessary clarity. The residents can now vote with even more conviction for Olympic Games in Hamburg" (SID, 10/8).
HARSH CRITICISM: The SID also reported Olympic opponents have "strongly criticized" the financial concept. NOlympia initiative member and environmental activist Dirk Seifert said, "Those are gigantic numbers considering we are talking about a sporting event. The opposite of what I hoped for and expected happened. These Games are incredibly expensive. How Hamburg wants to do this is beyond me" (SID, 10/8).
