Iberdorla to continue sponsorship of Desafío Español

Capitalizing on the immense success of the Spanish challenger in the 32nd America's Cup, Iberdrola, the Spanish utilities multinational group, has officially announced its commitment towards Desafío Español.

As a result, Iberdrola will continue sponsoring Desafío Español in its quest to challenge Alinghi in the 33rd edition of the event, to take place in Valencia during the next 2 years.

According to various press reports, not officially confirmed though, the financial involvement of Iberdorla will be in the tune of 30 million euros per year. The Challenger of Record of the 33rd America's Cup has now become the first team to officially announce a major sponsorship deal.