Tycoon Plans £80m Challenge for America’s Cup

One of the architects of London’s successful Olympic bid is to try to win the America’s Cup, the oldest sporting trophy in the world, and bring it back to British shores for the first time since 1851.

Sir Keith Mills, founder of the Air Miles and Nectar loyalty card businesses, is to sink up to £80m of his fortune. “We intend to build a team capable of winning the America’s Cup to ultimately bring the cup back to Britain for the first time since 1851,” he said yesterday.