Ministers announce £7.5 million funding to
support Sir Ben Ainslie’s America’s Cup team and their proposal to
be based in Portsmouth.
Ministers today (1 July 2014) announced £7.5
million of government funding to support Sir Ben Ainslie’s
America’s Cup team and their proposal to be based on the Camber in
Portsmouth.
The
investment will be supported by an additional £1.4 million from
Portsmouth City Council.
The
headquarters will initially employ about 90 people, with many more potential
jobs in the supply chain. It will become the focal point for the design,
construction and development of the team’s boats and will also provide
sports science and fitness facilities and a visitors’ centre. An
apprenticeship and training scheme will ensure the site is sustainable and
there will be a drive to ensure the project acts as a catalyst to encourage
participation in the sport of sailing, all areas of the marine industry and
develop the talent of the future.
The
project has the potential to bring significant economic and sporting benefits
to the UK, particularly for Portsmouth and the wider Solent area. A recent
report on Team New Zealand suggested that its base in Auckland created 1,000
jobs and brought an $88 million boost to the local economy.
The
Prime Minister David Cameron, who discussed Sir Ben Ainslie’s plans with
the 4-time Olympic Gold medallist during a meeting today at 10 Downing Street,
said:
Sir
Ben Ainslie’s project is truly fantastic news for Portsmouth and the
Solent. It will not only build on Portsmouth’s global reputation as a
centre of marine and maritime excellence but will also deliver a real sporting
and economic boost to the UK. It is a great example of our long-term plan -
creating jobs as well as opportunities for young people to develop their skills
through apprenticeships.
This is an exciting and historic challenge and I hope
the whole country can get behind Sir Ben’s campaign.
Four-time Olympic gold medallist, Sir Ben Ainslie
said:
Portsmouth has a great maritime heritage and we felt it
was a natural home for the team’s permanent base in the UK. There is
excellent access to the water for the team’s training and to host future
America’s Cup events, with fantastic spectator viewpoints. We hope
through our journey to bring the Cup home to Britain we will inspire more young
people to get involved in the sport, along with supporting the growth of the
marine sector in the Solent area to match the
country’s F1 innovation hub.
David Cameron and Sir Ben
Ainslie at Downing Street 1 July 2014 (JPEG,1.45MB)
Business Secretary Vince Cable said:
This is intelligently targeted government investment in
the future of Portsmouth and the Solent. This part of the country has faced
some tough times, but Sir Ben Ainslie’s project will be a welcome boost
to the local economy. It will create new jobs, apprenticeships and
opportunities for young people by building on existing strengths in areas like
marine and tourism.
Minister for Portsmouth Michael Fallon
said:
I’ve been flying the flag for this iconic project
across government and am delighted that we are supporting it today. This is a
historic opportunity for Portsmouth and for the Solent’s economy,
tourism, marine industry and skills base. Portsmouth can make a huge
contribution to the winning team Sir Ben Ainslie is putting
together.
Government support for the project was a key
recommendation of a recent report by Rear Admiral Rob Stevens on boosting
growth and jobs in the marine and maritime industries in Portsmouth and across
the Solent. The report was commissioned by Minister for Portsmouth, Michael
Fallon. The Solent Local Enterprise Partnership also stressed the importance of
the project as part of their bid to government for a Local Growth deal for the
region.
The
government funding package includes contributions from the Department for
Business and Department for Communities and Local Government.
Sir
Ben Ainslie launched his bid to win the 163-year old trophy - never yet won by
Great Britain - on 10 June 2014. The Duchess of Cambridge attended the launch
at the Royal Museums Greenwich to show her support for the
campaign.
The
team plan to complete construction work in Portsmouth by May
2015.
Notes to Editors:
Ben
Ainslie Racing (BAR) was launched on 10 June 2014 in the presence of the
Duchess of Cambridge. The team was conceived by 4-times Olympic gold medalist
and 34th America’s Cup winner, Sir Ben Ainslie, with the long-term aim of
challenging for Britain and bringing the America’s Cup back home to where
it all began in 1851. Ben will develop and lead a British entry capable of
winning the prestigious trophy, something Britain has so far never managed to
achieve. BAR is a commercial sporting team, with a number of
individual private investors alongside corporate partners. The team is made up
of some of the best British and international sailors, designers, builders and
racing support.
The
America’s Cup is the oldest trophy in world sport, and Britain has never
won it. The first race was organised by the Royal Yacht Squadron in 1851, the
same year that both Reuters and the New York Times were founded. It was a
single race around the Isle of Wight, open to yachts of all nations. The prize
was a silver Cup that was valued at One Hundred Pounds sterling. The black
schooner America won this nascent contest of maritime supremacy, outclassing
the rest of the field to be first at the finish line off Cowes. To honour that
victory, it was renamed the America’s Cup and became a challenge trophy,
open to sailing clubs of all nations.
American teams representing the New York Yacht Club
successfully defended the Cup against all challenges for 132 years - the
longest winning streak in sport - until an Australian team won in 1983. Since
then the Cup has become a truly global phenomena, with challenges from all 5
continents, and held in locations spread around the world – Cowes, New
York, Newport RI, Fremantle, San Diego, Auckland, Valencia and San
Francisco.