Olympic sailor Sir Ben Ainslie has raised almost three quarters of the funding needed for his America’s Cup bid

Olympic gold medallist Sir Ben Ainslie has raised around 70% of the sponsorship needed to enter a British team into the next America’s Cup.

In an interview with the BBC’s Linda Yueh, the sailor said he is currently seeking both private investors and commercial sponsorship for his own team, Ben Ainslie Racing (BAR).

Last year, Ainslie famously helped Oracle Team USA claim victory in the America’s Cup after coming back from 1-8.

The former champion needs to raise $100m in order for a British team to compete in the next America’s Cup, likely to be held in 2017.

Speaking at the London Boat Show in January he said: “I think we’ve got the right people involved, we’ve got a lot of backing in the last three or four months and if we can pull those key people together, I think we have a strong, realistic chance of being successful.”

Having launched his own team, J.P. Morgan BAR in 2012, Ainslie has said he will only commit to the event when the rules and regulations are announced.

The America’s Cup originally started in British waters in 1851 and Ainslie is keen to bring the cup home.

Watch YBW’s exclusive interview with Sir Ben Ainslie below:

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