HISTORY was made in Cowes on the Isle of Wight yesterday when the Princess Royal named Britain's challenger for the prestigious America's Cup trophy.

However, a minor hiccup occurred in the ceremony when a bottle of Moet et Chandon champagne failed to smash against the multi-million pound vessel's hull.

The Princess was standing next to the mastermind behind the challenge, Peter Harrison, when the slip-up - considered bad luck by many - took place.

The 80ft racing yacht was christened Wight Lightning before a packed audience made-up of the cream of the international yachting community.

The special ceremony was held at the Cowes headquarters of GBR Challenge - the team put together by multi-millionaire Mr Harrison who is masterminding the attempt to win back the famous trophy which has never been won by a British team.

The £2m vessel's name was chosen following a nationwide competition staged by the evergreen children's TV show Blue Peter.

Five-year-old George Pickering was one of more than 18,000 youngsters who entered the competition. He joined two other children who had chosen the correct name on stage with the Princess during the ceremony.

Britain's Olympic heroes, Sir Steve Redgrave and Matthew Pinsent - who used to live in east Hampshire - announced via a giant video screen that they were to be the official patrons of the team.

Also revealed at the ceremony was a deal with BBC TV sport which has secured exclusive rights to cover the racing series which begins in October in New Zealand.

The naming ceremony took place at the GBR Challenge base in Cowes - less than two miles from the startline of the first-ever race for the America's Cup in 1851.

The Wight Lightning has taken ten designers a year to develop and took 24,000 hours to complete over the past five months.

Naming the vessel, the Princess Royal said: "The crew have already shown that they can compete with the best in the world and if the boat behind us is fast, this campaign could really put Great Britain back in the frame in one of the most prestigious competitions in the sporting world."