[1] The club was formed in August 1909 by a group of sports-mad juveniles and takes its name from the Spanish word for dove.

A multi-sport club, Paloma has departments for badminton, basketball, gymnastics, judo, jiu jitsu, kung fu, table tennis, and handball.

A second Hamburger Pokal win in 2014 returned the team to DFB-Pokal play, this time to face Bundesliga club TSG 1899 Hoffenheim who beat USC 0–9.

After two seasons in the Oberliga Hamburg (V) Paloma was relegated in 2016 and currently play in the Landesliga Hamburg-Hansa (VI).

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