British America's Cup team boss Peter Harrison has thrown down the gauntlet to potential sponsors for the next event by announcing he will pull out unless his investment is matched by corporate money.

Harrison, who spent £24 million of his own money by launching the GBR Challenge for the 2003 America's Cup, is keen to use the expertise and knowledge gained in the two years before the British team were knocked out in the quarter finals of the Louis Vuitton Challenger series, for a second campaign.

But although he is happy to commit more of his personal wealth to bringing the Auld Mug back to the Isle of Wight, he wants help in meeting the onerous costs required to compete with well-resourced teams from America, New Zealand, Switzerland and Italy.

His two boats Wight Lightning and Wight Magic, both built in Cowes, will arrive back in Britain in April where a core GBR Challenge team, which will be cut from 119 to 20 during this year, will make modifications so they can be used as training boats in preparation for the next America's Cup.

"We cannot have the budgets rattling away in the way they have in the last 12 months so I have to go knocking on doors of chief executives to sell them the value of supporting us in this Cup," Harrison said

"I have given myself 12 months because at the moment, I am having difficulty in thinking about me doing this campaign alone.

"I am emotionally involved but you have to be hard-headed in business terms and, unless I have very good interest, preferably committed interest to match my share, I will not be so enthusiastic.

"In the meantime, we have to cut our budgets back and keep things going on a trickle basis."

For the 2002/03 competition, Harrison attracted around £3 million worth of sponsorship, offered by way of services rather than cash. But this time, Harrison says he needs three or four top big names who will participate with him.

Over the next few days, he will appoint a sponsorship marketing company to help him generate interest among the top companies before jetting off to New Zealand to watch the climax of the 2003 America's Cup.