The Ministry of Defence has decided to transfer the custodianship of HMS Victory with the promise of a multimillion pound funding boost.
The HMS Victory Preservation Trust will be now be responsible for maintaining Nelson's flagship.
Nelson's famous flagship is to receive a multi-million pound windfall after it was announced it will be handed over to a new charity.
The future of the world's most iconic ship has been secured by a £50m grant. HMS Victory has been handed over to a charity by the MoD.