The donation has been made by trustees of the El Pomar Foundation, which gives grants to non-profit organisations in Colorado.

It will be the home of the Olympic Museum, the first in the US.

In July, the United States Olympic Committee (USOC) signed a 30-year deal with the not-for-profit United States Olympic Museum for the facility to be built in Colorado.

At least $70 million (£41 million/€52 million) is needed in private donations in order to build what is being labelled an "inspiring and extraordinarily dynamic venue".

"Colorado Springs is a proven leader in its support of our country's Olympic and Paralympic athletes," said El Pomar Foundation chairman and chief executive William J. Hybl.

"Spencer Penrose envisioned Colorado Springs as a thriving hub of tourism and commerce, and the US Olympic Museum will be a destination tourist attraction, and a powerful economic driver for the region.

"It will honour the Olympic Movement and the athletes who have achieved and endured.

"Additionally, the Museum's leadership team, headed by Ambassador Richard Celeste, has demonstrated certainty of vision and commitment to achieve the museums goals."

The Museum will chronicle the United States' long Olympic history ©AFP/Getty Images



Colorado Springs is the home of the USOC, and under plans, the Museum will have historic artefacts, exhibits with video and audio presentations, facilities for temporary exhibitions and permanent collections relating to the US and global Olympic and Paralympic movements.

It will also be home to the US Olympic Hall of Fame and have the capacity to host special celebrations and events.

Celeste, President of the US Olympic Museum, said: "The Olympic Museum will be a place not only to showcase the struggle and success of our nation's athletes but to also express the universal values of excellence, friendship and respect through the philosophy of the Olympic Games.

"Providing a national home for the US Olympic Museum will allow us to share our passion with parents and children from around the nation and world as they visit the Museum."