As the former flagship of Britain's greatest naval hero, she is an iconic vessel.
It was aboard her that Lord Nelson died after his most famous seafaring success, the Battle of Trafalgar in 1805.
HMS Victory embodies the pride, history and traditions of the Royal Navy. But now she faces another skirmish.
The Government says she may be given to a private owner as a cost-cutting measure after fears among defence chiefs that she is becoming too expensive to maintain.
The Ministry of Defence argues that increasing budgetary pressures mean it must review Victory's future like any other ship.
But the idea that the world's oldest commissioned warship could fall into private hands or go to a charity has been criticised by naval experts, who say it would be a tragedy.
Victory has pride of place at Portsmouth dockyard, where she is visited by some 400,000 tourists annually.
She costs a minimum of £1.5million to maintain and run each year, but that figure can go up when major work is needed.
The MoD is considering whether to hand Victory to a private company, to a charitable trust similar to the one that looks after the Mary Rose, to another government department, or keep the status quo. continues here
Leftists are not known for their respect of tradition, in fact they abhor it, it is hoped though, that even they, have no choice yet but to safeguard our national treasures.
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