Technically, since the King of Spain gave it up last month, she is the property of the National Heritage Department but the Balearic Foundation for Tourism and Culture, which was set up leading captains of industry and the Balearic government to pay for the King to have a new yacht, have decided they want the vessel back.
The group of businessmen who chipped in to pay for the gift thirteen years ago demanded that it be returned to them' and not the government if the King no longer wanted to use it.
In a letter to the administrators of Spain's national patrimony, the representatives of the group argued that the gift had been made with the stipulation that the yacht be used by the King and members of his family'.
Some 30 individuals each contributed around 600'000 euros each towards the yacht in recognition for the King's role in promoting the islands.
A palace spokesman said the decision to it give up the 136ft boat had been taken by the monarch in light of the difficult economic times facing Spain.
And yesterday, the President of the Balearics, Jose Ramon Bauza, said that the regional government is interested to hear and listen to the position of the National Heritage Department. There's no rush and I hope we can all work together to reach a satisfactory solution but in the end, I guess those who paid for the yacht should have the final say, Bauza said.