Fla. treasure hunters agrees to hand over claim on shipwreck artifacts to British government

Fla. treasure-hunters, UK settle shipwreck dispute

TAMPA, Fla. — Florida deep-sea explorers say they have agreed to give the British government ownership of artifacts removed from a famous shipwreck.

Odyssey Marine Exploration said in a statement Friday that it will give up its claim to the wreck of the HMS Victory in exchange for 80 percent of the value of two brass cannons raised from the site.

According to the Tampa company, the salvage award will be about $160,000.

Odyssey announced the discovery of the wreck earlier this year. The legendary British man-of-war sank in the English Channel in 1744.

The company remains locked in a legal battle with Spain over an estimated $500 million in silver coins raised from the wreck of a Spanish galleon in 2007.