The engagement was an overwhelming naval success for the Allies: the entire French escort fleet, under the command of Château-Renault, together with the Spanish galleons and transports under Manuel de Velasco, had either been captured or destroyed. Yet because most of the treasure had been off-loaded before the attack, capturing the bulk of the silver cargo had eluded Rooke. Nevertheless, the victory was a welcome boost to Allied morale and had helped persuade the Portuguese King, Peter II, to abandon his earlier treaty with the French, and join the Grand Alliance.