HMS Victory, Lord Nelson's historic flagship at the Battle of Trafalgar in 1805, is in line to undergo a 'major restoration programme' over the next ten years.
The ship is currently on display in dry dock at Portsmouth's Royal Naval Dockyard and the Ministry of Defence is planning to launch a tender process for a new maintenance contract.
It is anticipated that a contract for the upkeep of HMS Victory will be awarded by the end of the year, with a current agreement nearing its completion.
A spokesperson for the Royal Navy confirmed that there were no plans to sell off the vessel and that work had already been carried out to ascertain the restoration required.
"Significant preparatory work has already been carried out which has surveyed and scoped the restoration required and which has provided a greater understanding of the material state of the ship than ever before," the spokesperson said.
