Raleigh commissioned shipbuilder R. Chapman of Deptford to build a ship for him. It was originally called "Ark" but became "Ark Raleigh", following the convention at the time by which the ship bore the name of its owner. The Crown (in the person of Queen Elizabeth I) purchased the ship from Raleigh in January 1587 for £5,000 (£ as of 2015). This took the form of a reduction in the sum that Sir Walter owed the queen; he received Exchequer tallies but no money. As a result, the ship was renamed "Ark Royal".