Portsmouth will host two America's Cup World Series events over the next two years.
The America's Cup World Series is the preliminary race series of the 35th America’s Cup, consisting of eight to ten regattas taking place around the world during 2015 and 2016.
All America’s Cup teams will compete in the series. Their overall placement will affect the seeding and starting score they take into the America’s Cup Qualifier events in 2017.
Ainslie Racing has released this computer generated artists's impression of what his proposed America's Cup sailing centre in Portsmouth if the scheme gets the go-ahead. Yesterday the Prime Minister pledged £7.5 million support for the project with an additional £1.4 million from the city council.
Video. First he got the Duchess of Cambridge backing him, now he has the Prime Minister too. Sir Ben Ainslie's bid to win back the oldest trophy in sport got a big gust of wind in its sails today, thanks to a multi-million pound grant.
At 10 Downing Street this morning he was promised more than £7 million for his dream to win back the America's Cup. It will bring investment and jobs to Portsmouth too.
Malcolm Shaw spoke to the man himself Sir Ben Ainslie, Portsmouth North MP Penny Mordaunt and Gosport MP Caroline Dinenage.
A spokesman for Ben** **Ainslie Racing said the headquarters would initially employ 90 people with more potential jobs in the supply chain.
He said: "It will become the focal point for the design, construction & development of the team's boats & will also provide sports science & fitness facilities.
Construction work will start immediately and should be completed by May 2015.
Four-time Olympic gold medallist Sir Ben** **Ainslie has been granted £7.5 million by the Government to build a base for his America's Cup team.
The centre to be built in Portsmouth is expected to create 90 jobs and act as an economic boost to the Hampshire city.
Announcing the funding at Downing Street, the prime minister David Cameron 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.
Sir Ben 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.
Plans by four-time Olympic champion Sir Ben Ainslie to build a new sailing base in Portsmouth for his America's Cup team have been approved by council planners.
A committee was set up to oppose the building at Camber Dock in Old Portsmouth, which would include high-tech training and medical facilities. Sir Ben believes up to a thousand new jobs could be created by the base - a final decision will be made by the council next month.
Video. It's the world oldest international sporting trophy and today, Sir Ben Ainslie announced he's leading a British challenge for the America's Cup.
The four-time Olympic champion from Lymington wants to base the team in Hampshire and believes it will pump millions of pounds into the local economy. His ambitious plans are receiving Royal support, as David Reilly explains.
We spoke to Sir Ben Ainslie and Portsmouth North MP Penny Mordaunt.
It's called the America's Cup but it all started off the Isle of Wight in 1851 when an a crew from America beat a crew from Hampshire to win what is now the oldest trophy in sport - the Auld Mug.
ORACLE TEAM USA scored its sixth consecutive win in Race 17 of the 34th America’s Cup and lies within one point of Emirates Team New Zealand. The Kiwis have needed just one win to capture the America’s Cup after moving opening a lead of 8-1 last Wednesday, and now lead the series 8-7.
Skipper Jimmy Spithill insists his Oracle Team USA are still the underdogs despite recording their sixth and seventh straight wins to take the America's Cup to a decider against Emirates Team New Zealand.
Spithill's team, with Sir Ben Ainslie as the tactician, have battled back magnificently and won race 17 by 27 seconds and race 18 by 54 seconds to set up a winner-take-all finale on Wednesday evening.
Only twice before in the 162-year history of the competition has there been a winner-take-all race, in 1920 and 1983 respectively
Crowds at the America's Cup park in San Francisco watch the first semi-final