"The skipper who will lead the Desafio's boat will be Spanish", said José Luis Doreste, a double Olympic champion, who is shouldering the new team sport program. "The idea is to put together a team with the best players".

Three times Spanish America's Cup skipper Pedro Campos appears to be not desired by the new team and, according to the Spanish Website Masmar.com, the new skipper could be Roberto Bermudez de Castro Muñoz.

'Chuny', as he is called, has sailed in several dinghy classes ranging from Optimist, Snipe, 470, Mistral one design to Laser.

Later on he acquired extensive experience and knowledge in the IMS circuit with Caixa Galicia, on the Whitbread 60 Galicia Pescanova in the 93-94 Whitbread race. Most recently he sailed leg 2 and 4 on Assa Abloy during the last Volvo Ocean Race.

Chuny also sailed in two America's Cup campaigns ('95 and '99). In the last Spanish campaign, he was tune-up helmsman for Bravo España.

Asked by a Spanish journalist about the date on which the Desafio will be certain, Agustín Zulueta said that the new Spanish challenge is already sure to be present in the competition which will start in September 2004.

"The project is already confirmed and the press presentation will be done in few days time", he said. "The project is on it's way. We have offices, a company created, shareholders and a financial plan".

According to him, the €60 money would have started coming in very rapidly, which will allow for the purchase of two Class America and for the installation of a base "by the end of the year".

It was today announced the merger of Antonio Banderas' Mediterranean Brands and Agustín Zulueta's Desafio has been finalized. Leaded by the actor, the first project united Francisco Fortes, Mike Whiddon and Fernando Brun. The Spanish Sailing Federation gave their official backing to the second.

By the means of the "El Reto" society, the new Spanish Challenge targets a €60 million budget. A sum necessary to purchase two Class America, to undertake the development of two new IACC boats and to recruit a team which will be able to defend the Spanish colours through the three years of competition which will start in September 2004.

The promoters of the project intend to very quickly purchase the boats and want to begin recruiting efforts in few days.

Far from the traditional support committee, it seems that Antonio Banderas could play a real role in the Team ('Tau Cerámica', the Farr-designed boat he owned with his brother Javier Domínguez sailed on the International IMS circuit).

Although he has not yet signed with the new syndicate, Luis Doreste is the natural candidate for the skipper role. His brother José Luis is member of the team.

Fernando Brun, 'consejero delegado' for the Team, (he shares the title with Agustín Zulueta) said that the economic viability of the project has been established by two large Spanish and said that their names will be revealed soon.

After Valencia was appointed host for the 2007 America's Cup, the project of Desafio Español which Agustín Zulueta considered can be pushed under the limelight.

"We are now preparing a Spanish project and details will be revealed over the next few days", said Gerardo Pombo García, President of the Spanish Sailing Federation, who said in October that project is "suspended" until the Swiss have chosen the America's Cup venue.

The Spanish Challenge had a few small sponsorship deals but nothing major. But the name of the first of the major could be unveiled over the next few days.

"Valencia has worked hard to have this (America's Cup), now we have to work so that we can compete in it," said Agustin Zulueta, who has set himself a Christmas deadline to collect the 50 to 70 million euros they need to fund the Team.

"One of the yachts who will challenge Alinghi in the next Cup will be Spanish", said Agustín Zulueta, a former member of the Desafio Español and now Sports Director for Team Spirito Santo. "Our project is ambitious".

"We started to work in november 2002, a long time before Alinghi won the Cup", he said. "Our goal is to reach a €50 million budget, some is the next venue".

For this campaign the new Desafio was successful in attracting several partners, "including a famous sport clothing company" but is still looking for the main sponsor who would be ready to invest 30 or 40 million in the campaign.

To develop a new Team, the new Desafio Español wants to recruit the best of Spanish sailors, including the Doreste brothers (Luis and José Luis).

Members signed up to date include José Luis Doreste, Laureano Wizner and Dimanche Manrique. José Luis Doreste seems to hesitate, affirming that "many issues still remain to be negotiated".

A negotiation which will have to wait as Gerardo Pombo García, President of the Spanish Sailing Federation, today said that project is "suspended" until the Swiss have chosen the America's Cup venue.

Alinghi's new Spanish navigator Juan Vila can't afford to be outside the debates about the impact of a new Desafio Español for 2007 on Valencia's bid.

"Nothing makes it possible to say that the first decreases the chances of the second", Juan Vila said. "The two facts are totally unrelated and, for myself, I'm thinking a Spanish Syndicate would be rather positive".

"Don't forget that the purpose of AC Management shall be to realise the sporting and commercial potential of the Cup and to encourage worldwide growth and interest in the event", he added. "A Spanish campaign will surely attract even more public attention".

With the formal announcement a couple of months ago of the retirement for the time being of the Japanese America’s Cup syndicate, news also comes of the same situation for the Spanish syndicate.

Both nations were new to the America’s Cup arena in 1992 and both nations made brave efforts to enter a world traditionally dominated by stronger sailing cultures. Although the Nippon Challenge made it to the Louis Vuitton Cup Semi-Finals on all three occasions, the Spanish had less success on the water.

Citing financial problems as the main reason for their withdrawal, it would be fair to add that there is currently no obvious successor to Pedro Campos to lead Spain to the next level of America’s Cup competition.