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.