Photo: Joan Llado.

If you are outside the business world, perhaps you have never heard of INEOS, a British-based chemical giant. Its Chief Executive, Sir Jim Ratcliffe, is better know because at the moment he is bidding to be the new owner of Manchester United and he is one of Britain's richest men. Sir Jim, who owns a home on the island, is also backing Britain's bid for the America's Cup; the team led by Sir Ben Ainslie has established a training base Porto Pi in Palma.

This week the superyacht Grace, owned by one of the senior executives of INEOS, was in Mallorca waters and one of their private jets landed at Palma Airport. Sir Jim Ratcliffe's superyacht, Hampshire II, sailed in Mallorcan waters last summer.

Sir Jim also owns the Ineos Grenadiers cycling team, formerly Team Sky, who use Mallorca as a training camp.

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The INEOS association with Mallorca is set to last. The sailing team announced last week that they would be based on the island for at least four years.