Only the Brave (OTB), the holding company of Diesel founder Renzo Rosso, has signed a 5 million euro sponsorship agreement for the restoration of Venice's Rialto Bridge. The Rialto Bridge, nicknamed the "White Elephant," is the oldest bridge spanning the Grand Canal. The bidding process was opened to the public on the 13th, and the award was announced at a press conference held at the Venice City Council on the 14th. "It is my civic duty to give back to the community I live in. I have a responsibility to preserve my country's cultural heritage. The Rialto Bridge is not only a symbol of Italy, but, like my brand, it belongs to the whole world," said Rosso, expressing his joy at being able to give back to Venice, a city he has had a connection to since childhood. Under the sponsorship agreement, the City of Venice will oversee the planning, project management, and restoration work, while the sponsor will cover all costs. In a communication plan signed by the City of Venice and OTB, Rosso has pledged to use creative yet discreet advertising that does not spoil the view. The restoration work will take 18 months and is scheduled to be completed at the end of February 2016.