Colosseum Restoration Draws Criticism; Funding May Be Withdrawn

More news about the restorations to Rome's iconic Colosseum: The Telegraph is reporting that Diego Della Valle, who owns Tod's luxury shoemakers, signed an accord with Rome city council last year to foot the bill to restore the facade of the giant amphitheater in return for promotion opportunities.

But, the paper now reports, he has threatened to pull out of the arrangement after it became "bogged down by allegations of impropriety, favoritism and a lack of transparency."

The contract would give Tod's the rights to use the Colosseum's logo for 15 years and to put its own brand on tickets bought by the six million tourists who pay to see the monument each year. The right to use the Colosseum logo is opposed by consumer groups and UIL, Italy's third-biggest union.

The deal is being investigated by Italy's anti-trust body and prosecutors in Rome.

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