The allied fleet, despite their victory at…
March 1573 CE
The allied fleet, despite their victory at Lepanto, had been unable to confront a new Ottoman navy formed the following year.
Spain’s delay in capitalizing on the Holy League’s 1571 naval victory at Lepanto had enabled a Turkish fleet to check the Venetians in 1572, forcing them to withdraw from the Holy League.
Venice consequently recognizes Ottoman hegemony in the Mediterranean, signing a treaty on March 7, 1573, by which Venice cedes Cyprus and possessions in Albania and Epirus and pays a large indemnity to the Ottoman empire.