An underwater archaeology team from Texas State University has discovered a 17th-century shipwreck off the coast of Panama. The ship's owner is believed to be the notorious Welsh Admiral and privateer, Sir Henry Morgan, a.k.a. Captain Morgan. Bada*s, right? In fact, speaking of Morgan, the expedition is being partially funded by the liquor brand. Details and a video from the dive after the click.

via Discovery:

The cargo has yet to be opened, but Captain Morgan USA -- which sells the spiced rum named for the eponymous pirate -- is clearly hoping there's liquor in there. "There's definitely an irony in the situation," Fritz Hanselmann an archaeologist with the River Systems Institute and the Center for Archaeological Studies at Texas State University and head of the dive team told KVUE Austin. The Captain Morgan rum group stepped in on the quest for Captain Morgan after team -- which found a collection of iron cannons nearby -- ran out of funds before they could narrow down the quest.

In the 17th century, Captain Henry Morgan sailed as a privateer on behalf of England, defending the Crown's interests and pioneering expeditions to the New World. In 1671, in an effort to capture Panama City and loosen the stronghold of Spain in the Caribbean, Morgan set out to take the Castillo de San Lorenzo, a Spanish fort on the cliff overlooking the entrance to the Chagres River, the only water passageway between the Caribbean and the capital city. Although his men ultimately prevailed, Morgan lost five ships to the rough seas and shallow reef surrounding the fort.