Italian shoe billionaire’s battle to scrap £21m Colosseum restoration deal

He was dissuaded from doing so by Lorenzo Ornaghi, Italy’s culture minister,
who asked him to wait until the investigation runs its course.

“If somebody can do better than us, he’s welcome,” the founder of
Tod’s told a press conference in Rome. “We are available only if the
operation is crystal clear and as long as it’s done quickly, otherwise we
will step aside.”

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.

But the company has repeatedly insisted that it would not plaster the exterior
of the monument with unsightly advertising hoardings.

The agreement signed with Tod’s was hailed as a blueprint for how Italy could
finance the upkeep of its treasure trove of Roman remains and other historic
monuments, but has been controversial from the start.

The right to use the Colosseum logo is opposed by consumer groups and UIL,
Italy’s third-biggest union, traditionally a bastion of Socialists.

The economic crisis, and Italy’s huge 1.9 trillion euro public debt, compelled
first the government of Silvio Berlusconi and now that of his successor,
Mario Monti, to seek help from the private sector in managing the country’s
heritage.

The need for a comprehensive restoration of the Colosseum has been underlined
in the last few months by chunks of masonry and stone falling from the arena.

The two-year restoration was due to begin in March but may now be held up by
the investigation.

Gianni Alemanno has called the wrangling over the deal “madness”,
saying it was drawn up with full transparency and should go ahead as soon as
possible.

“Let’s restore the Colosseum. Do you want it to fall to pieces?” he
said earlier this month.

“It’s madness having to be stalled for a year when there’s a private
businessman giving us 25 million euros for the Colosseum’s restoration and
in exchange asking nothing but the privilege of talking about it.”

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