Roman era graffiti found on Colosseum The coloured frescoes were "an extraordinary discovery," said Rossella Rea, who is in charge of the landmark in the centre of Rome. We weren't expecting to find them. There is still a great deal to be studied and there will almost certainly be other surprises. The frescoes would have been "rich and elaborate" in colour and detail, said Ida Simonelli, the head of the restoration team. A £22 million restoration of the Colosseum, to be funded by Diego Della Valle, the multi-millionaire founder of the Tod's shoe empire, is scheduled to begin within weeks. It will be the most comprehensive restoration effort in more than 70 years and is expected to take two years. The project, which will entail removing decades of grime from the facade of the Colosseum, will take place in phases so that the amphitheatre can remain open to visitors. The privately-funded work, which has been delayed by months of bureaucracy, is being seen as a model for the sponsoring of other ancient sites in Italy, including Pompeii.