I haven't heard anything about Kino, but would definitely like to own a copy of the film. Riefenstahl was an impressive film maker, regardless of her questionable politics. I'm surprised it still is not available on DVD, though I'm sure Kino would do a great job if the rumor pans out (they did release The Holy Mountain).
From
Das Blaue Licht News:
July 2003
The International Olympic Committee (IOC) has added to its cinema archive by "purchasing the [film] rights" of the 1936 Summer Games in Berlin . Reportedly the purchase was of Leni Riefenstahl's documentary film Olympia (1938). The terms and price for this significant acquisition by the IOC from the German government remains unclear, though they include the commercial rights. Current IOC president Jacques Rogge describes the famous two-part documentary as "...the pearl of our collection... the most eminent film in the history of the Olympic Games." (Source: AP)
Leni Riefenstahl's Olympia film is named one of the top 10 sports films of all time by Sports Illustrated this month. Described as a "lyrical account of the Berlin Olympics" the brief article mentions that noted film critic Pauline Kael called the 1938 release "an elegy on youth" which is "dedicated to the highest ideals of sportsmanship..." Included in the very short list are artistic triumphs such as "Chariots of Fire", "Raging Bull" and the documentary "When We Were Kings."