New Berlin mayor Michael Muller has said the city will contribute 2.74 million euros towards the cost of staging the 2015 Champions League final.
The Olympiastadion will host the women's final on June 4 followed by the men's final on June 6, with the final piece of paperwork completed on Tuesday when the Berlin senate agreed to make the required binding promises to UEFA over the staging of the matches.
Muller said the city would make a sizeable financial contribution towards the week of football and revealed plans to stage a fan fest at the German capital's Brandenburg Gate from June 4 to June 7.
Sport senator Frank Henkel added that Berlin is confident of avoiding financial losses and underlined the benefits for the city through the worldwide TV coverage.
"As the crown of the European club football, the Champions League final has an outstanding importance, and image-wise it is of the highest value for Berlin," he said in quotes reported by local paper Tagesspiegel.
Meanwhile, the German FA (DFB) has underlined that it wants Germany to host the 2024 European Championship.
Earlier this year, the DFB decided not to bid for the 2020 final package and made way for London's Wembley stadium to host the final three games of the anniversary tournament.
Having last staged a major competition in 2006, when the World Cup visited Germany, DFB president Wolfgang Niersbach told reporters in Frankfurt that most of the infrastructure is still intact.
"Building new stadiums is not necessary," Niersbach said. "Maybe we'll need to install a new video screen or do some re-painting, but that should be it," he said during the official presentation of the "project 2024," which also includes building a new DFB academy and more.