Germany agrees to $28 million compensation for murdered Munich Olympians families

(Berlin) -- Germany will pay 28-million dollars to the families of Israeli athletes who were murdered at the 1972 Olympics in Munich.

A German interior ministry spokesman said Friday the families and the German government agreed on the compensation amount.

Last month the families said they were unhappy with Germany's latest offer and that they planned to boycott a ceremony Monday in Munich, marking the 50th anniversary of the attack.

On September 5th, 1972, Palestinian gunmen took 11 members of the Israeli Olympic team hostage at the poorly secured athletes' village. All eleven, along with a German policeman and five Palestinians were killed when a failed rescue attempt turned into a shootout after an hours-long standoff.