The El Reto syndicate, representing the Real Federación Española de Vela - Spanish Sailing Federation, and headed by Agustín Zulueta has become the eighth challenger for the 32nd America's Cup.

The Société Nautique de Genève, the Defender of the America's Cup, accepted the Spanish Challenge on the 17th December.

On three previous occasions Spanish yachts have raced in the Louis Vuitton Cup, Challenger Series for the America's Cup - in 1992 and 1995 in San Diego and in 1999 in Auckland.

"With the 32nd America's Cup taking place in Spain all the elements are ready for us to mount a competitive Spanish Challenge", Zulueta said.

"Our objectives now are to get structured with our team and main sponsor Iberdrola, to organise boats so that we will be ready to race competitively next June during the Valencia Louis Vuitton Acts and to develop our long term strategy for the Louis Vuitton Cup and 32nd America's Cup in 2007. We have a lot of work to do!".