Hamburg Mayor Peter Tschentscher rejects billionaire Klaus-Michael Kühne's proposal for the city to financially support the Elbtower project's completion.

Tschentscher cites Kühne's questionable track record and states that the city had already sold the land and approved construction with the understanding that risks would be borne by the private investor.

Despite Kühne's suggestion of a public-private partnership, Tschentscher emphasizes that the city will not invest public funds or take a leading role in the project.

Construction of the Elbtower, intended to be Germany's third tallest building, was halted due to unpaid bills from the Signa Group, leading to insolvency.

The Mayor remains confident that a private sector solution will be found in the second half of the year, although any design changes would require new approval.

The Left party criticizes Kühne's demands, accusing him of attempting to shift risks to the public while privatizing profits.