The remains of a 300-year-old warship are to be raised from the sea bed, according to reports.

The wreck of HMS Victory, a predecessor of Nelson's famous flagship, was found near the Channel Islands in 2008.

The British warship, which went down in a storm in 1744 killing more than 1,000 sailors, could contain gold coins worth an estimated £500m.

The Sunday Times says the Maritime Heritage Foundation is set to manage the wreck's raising.

It also reports that the charity will employ Odyssey Marine Exploration to carry out the recovery....