Britain unveils entry for 33rd edition

Britain will challenge for the 33rd edition of the America's Cup, likely to take place in 2009, it was announced yesterday.

The Origin Sailing Team, brainchild of London 2012 Olympics bid chief Keith Mills, will attempt to win back the oldest major trophy in sport since the inception of the series in 1851.

Britain, the most prolific sailing nation at the last two Olympics, has no boat in the 32nd edition of the America's Cup which is taking place in Valencia this year - the first time it has been staged in Europe for over 150 years.

Mills said the team will have a budget of £30 million per year and would be funded by private and commercial investment. Mills, a keen sailor who was part of the winning crew in the Clipper Round the World race in 1999, said he would be underwriting the project and described his involvement as a "philanthropical" exercise.

Britain has entered a boat in only one of the last six editions of the America's Cup, the most recent being in 2003, although it is well represented in this year's competition, with 24 sailors involved, including triple Olympic medallist Ben Ainslie.

Swiss team Alinghi will be defending the trophy they won in New Zealand in 2003 when the America's Cup reaches its conclusion in June.