Speaking today in the framework of the Sporting Sponsoring Days organized by the Universidad Cardenal Herrera CEU, the Real Club Náutico de Valencia’s President Manuel Casanova considers two Spanish campaigns for the 32nd America's Cup.

"Doreste and Zulueta [the El Reto Challenge's leaders] decided that Valencia was not their burgee and I have no matter with that", he said. "But if Pedro Campos, who is a great skipper, decides to lauch a challenge, I am sure that he will find sponsors and that he will settle in Valencia".

An analysis that the head of the Valencian employers' organisation Rafaël Ferrando obviously doesn't share. He said that there is not the time or funding available to built a boat and that the Spanish had better wait till 2001.

It should finally be noted that Manuel Casanova bets on the Americans "because they are without any win since long years and because they surely will built a very speed boat".

Former leader of the three Spanish campaign in the America's Cup (in 1992, 1995 and 2000) Pedro Campos held a press conference on Thursday in Valencia, officially devoted to his participation in the Volvo Ocean Race 2005.

Those who hoped that this competition moves him away from the new 'El Reto' were undoubtedly disappointed. The spanish skipper always suffers from the Cup virus.

"I will take part in the America's Cup only with a significant role because I went there three times and I won 22 matches", he said (forgetting that he was deposed as skipper of the Bravo España boat by the brother Doreste during the 2000 America's Cup).

"Between the World Cup [ie. the Volvo Ocean Race] and the America's Cup, there will be two years and it is not very long", added Pedro Campos, whose plan seems to be very similar to the Illbrück Challenge concept.

"The two complementary projects could mutually benefit from each other", he said. "We could include the infrastructure for the World Cup in our preparation for the America's Cup".

"The level established by Alinghi is so high that those who want to keep up with them have to give a lot", the Spanish skipper explained. "The money is as important as the delivery".

"I believe that to win the America's Cup it is not only necessary to invest about 60 or 100 million euro, but it is necessary to invest it now", Pedro Campos concluded before stressing that the apparent difficulties of the new "El Reto" doesn’t surprise him.

"What would have really surprised me is if they have already finalized their budgets. My three participations cost me blood, sweat and tears ".

After they said in December they had secured their budget (see above), the situation seems to be more complicated for the new "El Reto".

It's at least the case in Barcelona where, in spite of the efforts of the mayor Joan Clos, the idea to use the Cambra de Comerç de Barcelona (chamber of Commerce of Barcelona) to federate the catalan companies doesn't give wished results.

Far from being in the same comfortable situation as Oracle and Alinghi, it's seems that the new "El Reto" is (like the others teams) struggling to raise the €70/100 million needed to challenge.

From the very first mention of an ‘Arabian prince’ in November (with Paul Cayard and the Monaco Yacht Club), the rumours mills are spinning overtime churning out speculation after speculations.

Now, the Spanish newspaper Las Provincias said the new Spanish Challenge has obtained €40 million from an Abu Dhabi's Emir, who doesn't intend to be display neither his name nor any of his international companies as sponsor on the boat.

According to the same newspaper, an announcement is expected on February 20 from the Real club nautico de Barcelona.

"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.