LONDON (AP) — Multiple Olympic champion Ben Ainslie is trying to raise about 80 million pounds ($135 million) in his bid to bring back the America's Cup trophy to Britain in 2017.
The America's Cup is named after the yacht America, which won the inaugural trophy off the Isle of Wight in 1851. It has never been won by a British entry.
Ainslie launched his project on Tuesday in a presentation attended by the Duchess of Cambridge, a keen sailor herself.
Ainslie already won the regatta once, playing a pivotal role as Oracle Team USA defended its title in a stunning comeback last year.
Ainslie will skipper a new team he hopes will win the next America's Cup in 2017.
He says "we want to bring it home, it would be an amazing thing for this country."
Ainslie says his team has already secured about 40 percent of the 80 million pound ($135 million) funding.