NEWPORT council has warned that it cannot afford to look after the medieval ship that was found in the mud of the River Usk.

It said the ship is a "discovery of international importance", but it may have trouble finding the £300,000 needed every year to preserve and restore it.

Council leader Councillor Bob Bright said: "It's not possible for us to sustain this in the long term. Of course we want it preserved and reconstructed, but we need some extra help.

"I will start some negotiations with the Assembly. We will look at every conceivable option."

In fact, it could be another decade before the ship is fully preserved, reconstructed and ready for display in the Riverfront.

Until then the timbers are being treated and analysed at a warehouse in Maesglas in a project costing £3.5m.

That cash is set to run out over the next year, and the council is now worrying about how it will pay for the treatment and restoration of the historic timbers.

Charles Ferris, of the Friends of Newport Ship, said: "We would be deluding ourselves if we didn't recognise that funding the ship is a massive project.

"It shouldn't be borne by the city alone. The ship is of world-wide significance and it's unique. The ship has such tourist potential she could be self-funding."

A council spokesman said: "The Assembly grant has funded a significant part of the work which has included the archaeology, building prolongation cost, building the Riverfront gallery and the removal and storage of timbers.

"To date Newport city council has drawn on £2.9 million of the WAG grant and contributed £928,000 from its own resources.

"However there are ongoing costs for recording and restoration work, which will be at least £300,000 a year for several years.

"Clearly in a tight budget it will be important for these additional costs to be met nationally. A business plan is being prepared."

The council refused to comment on how much it cost to excavate the ship, how much the viewing chamber added to the cost of the Riverfront, and how much had to be paid to contractors who were delayed while the ship was extracted.

The Argus has now submitted these questions under the Freedom of Information Act.