Newnes stipulated that Borchgrevinks expedition must sail under the British flag, and be styled the British Antarctic Expedition. Borchgrevink readily agreed to this, even though only two of the entire expedition party were British. Borchgrevink eventually managed to persuade publisher Sir George Newnes (whose business rival Alfred Harmsworth was backing the RGS venture) to meet the full cost of his expedition, some £40,000 (approximately £3,979,500 in 2016)