It's a time of trouble for the America's cup but it doesn't stop the Spanish Challenge from advancing.

Main sponsor for Desafío Español during the 32nd America's Cup, Spanish utility Iberdrola SA will finance another campaign et will remain title partner for 2009.

If the Portuguese nautical brand Quebramar and the City of Valencia have also renewed their commitment, Desafío Español have had to find another backer after Cajamadrid decided to end its agreement.

The place didn't stay vacant for long. Nothing is officially signed yet but it looks like the Spanish bank Bancaja will be the fourth sponsor for the new Desafío Español.

And as a good news never arrives only, the rumour is circulating that Heineken, Europe's largest brewery, could be the fifht.