The remains of the first HMS Victory are to be raised from the sea bed nearly 300 years after it sank.
The predecessor of Nelson's famous flagship went down in a storm off the Channel Islands in 1744, taking more than 1000 soldiers to their deaths.
Some believe the ship was carrying from Lisbon to Britain a large quantity of gold coins that would now be worth a reported £500 million.
According to the Sunday Times, the wreck is to be handed over to the Maritime Heritage Foundation, which is expected to employ Odyssey Marine Exploration to carry out the recovery.
The American company found the ship in May 2008.
The Maritime Heritage Foundation was set up by Lord Lingfield, a relative of Admiral Sir John Balchin, who was aboard the Victory when it sank.
