HMS Sussex sank in 760m of water near Gibraltar in 1694, with the loss of 560 crew - and a fortune in gold and silver destined for the Duke of Savoy in Italy, to secure his assistance in the war against the French king Louis XIV.
When sunk the treasure was worth ?1 million, enough almost to bankrupt England and to force the Bank of England to be formed to help stabilise the country's finances.
Florida-based Odyssey Marine is convinced that it found HMS Sussex after a decade of deepwater surveys. Three years ago, it negotiated a 50-50 deal with the British Government to salvage the cargo, now possibly worth half a billion pounds.
Delay was caused by disagreement between Britain and Spain over rights to the wreck. Spain has now accepted that Britain is justified in laying claim to its own flagged vessel and, if the wreck is that of HMS Sussex, Odyssey can begin excavation by ROV of an estimated 10 tonnes of gold and silver.
|
