help in producing a Bermuda challenge to the America's Cup.

But he's a long way from saying yes.

Dodwell confirmed this week he had talked with the Island businessman and sailing enthusiast about potentially subsidising the venture. And, he said, the two were "still talking.'' The Minister, however, indicated he wanted more than just talk before committing tax-payers' money to one of the world's premier sporting events -- in particular numbers detailing its benefit to Bermuda's beleaguered tourism industry.

"Government has to be far more accountable (in where it spends money) in my point of view,'' said Dodwell.

"I need to see the quantifiable benefits.'' Dodwell wouldn't say how much Tourism was being asked to contribute except to say that it was "extensive.'' Carter is reportedly still seeking about 40 percent of a budget that could go as high as $30 million.

Carter launched the America's Cup Millennium Challenge with an advertisement in Wednesday's Royal Gazette , calling on Bermudians to fax their support to the Minister of Tourism and Minister of Finance. Such a bid, he argued, would be an "investment'' that would "return the value many fold.'' Dodwell said on Thursday night he had received "about 15'' faxes from supporters, but that was before the name Dennis Conner was thrown into the public eye.

Probably the most well-known of world sailors, the veteran America's Cup competitor is apparently heavily involved in Bermuda's bid.

Conner has won the America's Cup four times, the last time in 1987 when he snatched the title away from Australia's clutches Down Under, after the Aussies had unveiled a radically different 12-metre boat and dramatically beat the American defender in 1983.

It is known that the American has alternative plans for setting up a syndicate if the Bermuda challenge fails to materialise.

The bottom line for Dodwell? "I'm prepared to look at anything reasonable,'' he said.

Carter would not comment yesterday regarding the proposal, only saying that he was awaiting word from Dodwell.

Correction: Dennis Conner did not lead the team that defended the America's Cup for the San Diego Yacht Club in 1992, as reported in yesterday's Gazette .

Rival American Bill Koch eliminated Conner in the Defender trials, with Koch going on to successfully defend the Cup against Italy's Compagnia della Vela in the finals.

DENNIS CONNER -- key figure in Bermuda's bid to launch an America's Cup challenge.