Legend has it that the wreck of a Spanish galleon, laden with gold, lies somewhere in the mud at the bottom of Tobermory Bay. By some accounts, the "Florencia" (or "Florida" or "San Francisco"), a ship of the defeated Spanish Armada fleeing the English fleet in 1588, anchored in Tobermory to take on provisions. After a dispute over payment, the ship caught fire and the gunpowder magazine exploded, sinking the vessel. In her hold, reputedly, was £300,000 in gold bullion. Other sources claim the vessel was the "San Juan de Sicilia" (or "San Juan de Baptista"), which carried troops, not treasure. According to that account, the island's chief, Lachlan Mor Maclean, struck a deal with the Spanish commander to re-provision and refit the ship in return for military intervention on the side of the MacLeans in their feud with enemies on nearby islands. There have been numerous searches for the wreck and its rumoured treasure from the mid-17th century to the end of the 20th century. No significant treasure has been recovered in Tobermory Bay.