Lost in 1851 with Queen Victoria watching could the 'auld mug' return for Queen Elizabeth II ?

The historic British home of the America’s Cup is considering a bid to hold the 2007 competition after landlocked Switzerland won the supreme yachting trophy.

Cowes on the Isle of Wight now sees its best chance of getting the competition back home for the first time since 1851.

Leader of the Isle of Wight Council Shirley Smart said contact has been made with the winners to try to get a deal to bring the “Auld Mug” back home.

The council is now entering into talks with the Royal Yacht Squadron to put in a formal bid. They have already said they are keen to hold the event.

Mrs Smart said the island could not hold the competition on its own and would be looking for a “Solent challenge”, bringing on board the bigger neighbours of Southampton and Portsmouth.