The city of Rome is looking for a private sponsor to buy advertising rights on its historic Colosseum. The $33 million contract would pay for renovation on the site.
"Under terms of the contract made public on Aug. 4, the bidder will pay for 100 percent of the restoration in exchange for advertising rights and associated perks linked to Rome's biggest tourist attraction. The Colosseum draws more than 5 million visitors a year, producing 35 million euros in ticket sales that is used for the upkeep of monuments across the city.
'This establishes a clear precedent,' Rome Mayor Gianni Alemanno said in an Aug. 2 interview in his office overlooking the ancient Roman Forum and Colosseum. 'We hope this method can be used for other large restoration projects."'
This would be the first time a historic site's restoration is completely funded by private sources in Europe.
FULL STORY: Cash-Strapped Italy to Sell Colosseum Ad Space for Restoration
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Toronto Mulls Corporate Sponsorship for Parks
Short on funding, Toronto's waterfront parks agency is considering a plan to sell the naming rights to the park's amenities, allowing corporate sponsors to add their name to such public features as walkways and play areas.
Naming Rights Sold for Philadelphia Rail Station
The Southeastern Pennsylvania Transportation Authority recently announced a plan to sell the naming rights to the station formerly known as University City Station.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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