Spanish insurance firm Mapfre has been confirmed as the title sponsor of the Volvo Ocean Race team led by Pedro Campos.
The team has been without a main sponsor or a name since Campos confirmed the project in June.
With just days to go until the round-the-world race begins from the Spanish port of Alicante, however, Campos has been able to confirm a deal, although no financial details were made available.
Mapfre has previously sponsored several Spanish sailors during Olympic campaigns.
"Mapfre has been supporting sailing for years and we have already worked together in big campaigns," Campos confirmed. "Without a doubt, we will do our best to get Mapfre and Spain in the highest place we possibly can."
Mapfre vice president Antonio Nunez added: "Being the main sponsor of a campaign like this one is an exceptional opportunity. The experience of this team and its excellent crew are great to represent the brand Mapfre around the world. We thank their effort to compete in such an adventure and we wish them a lot of success in this regatta."
Campos, a regular on the Volvo Ocean Race, received support from Spain's National Sports Council and the Royal Spanish Sailing Federation as he got the team off the ground and began the search for a main partner.
Speaking to SportsPro in August, Campis said: "One of our strengths is experience. We have been doing the Volvo now, four attempts, and the majority of the crew have been involved in one way or another, so this is the reason we can still compete - because we have been late in terms of normal timing, because sponsorship has been very difficult to find."
In a separate deal head of the first in-port race on Sunday, Volvo Ocean Race has secured an additional sponsor for Team Vestas Wind, another of the seven entries. Powerhouse, a Dutch online energy distribution company, will be a sub-sponsor for the team, which is named after Danish wind energy firm Vestas.