An interesting news story written by Tim Jeffery in the Daily Telegraph today confirms that Peter Harrison, who funded the 2002/3 British America’s Cup Challenge, has put up another £4.5 million for next British America’s Cup campaign.

Harrision has also vowed to put forward up to 50 per cent of the projected £40 million British America’s Cup budget and will step down as the figurehead for the challenge. Instead GBR Challenge will appoint a chief executive for the job and Harrison will have an executive role on the board, but that’s it.