Brtish government discussing eight million pound "investment" in Ben Ainslie America's Cup campaign

MINISTERS are preparing to invest up to £8m to boost Britain’s attempt to win the America’s Cup for the first time, and bring the prestigious sailing competition back to the UK after more than 150 years. The government is to give financial backing to Sir Ben Ainslie, the Olympic gold medallist who was part of America’s winning team last year, to build a state-of-the-art boat and set up a permanent racing headquarters in Portsmouth. But last night the move was criticised by Labour MPs, who said the money would be better spent on supporting sports open to everybody rather than on an “elite”. Ainslie hopes to enter a team in the America’s Cup in 2017 and, by winning the cup, bring the competition back to the UK for the first time since 1851 when it was launched off the Isle of Wight.