Waverley is the world’s last seagoing paddle steamer and was famously gifted to the Paddle Steamer Preservation Society (PSPS) for £1 in 1974.
Waverley Steam Navigation Co. Ltd, a charity registered in Scotland, was established to own the ship and through a public appeal returned Waverley to service in 1975. Throughout her preservation career Waverley has required support to remain operational.
A £7 million heritage rebuild in 2000-2003 restored the ship to her original 1947 condition while incorporating modern safety equipment and standards. The rebuild was made possible by grants totalling over £5 million from the Heritage Lottery Fund as well as other funding from the Paddle Steamer Preservation Society, Glasgow City Council, Scottish Enterprise Glasgow, the European Regional Development Fund and other local authorities.
The Scottish Government provided £1 million of funding towards the Boiler Refit Appeal in September 2019 to help ensure that Waverley returns to service in 2020 and several other organisations and companies have also contributed. The Boiler Refit Appeal reached its £2.3 million target in December 2019.