A year after agreeing to sponsor a $32 million restoration project on Italy’s crumbling Colosseum, luxury leather goods maker Tod’s has said it may bail after being criticised by trade groups and coming under scrutiny from regulators, Reuters reports.
The British company, best known for its men’s shoes, signed onto the project, the biggest attempt to restore Italy’s ancient treasures with private money, in exchange for 15 years’ rights to the Colosseum’s logo. It also allowed the company to put its logo on Colosseum tickets and at the work site, Reuters said.
But Tod’s founder Diego Della Valle threatened to cut funding after regulators started investigating the project and consumer groups and unions complained.
The Colosseum is one of several sites in Italy that have been neglected in recent years due to a lack of funds, Reuters said.