Ivan... Odyssey told the Court that it could be the Mercedes. You'll note below that they said the Mercedes was a mail ship, carrying passengers and a commercial cargo, so Spain will have a hard time proving sovereign immunity.
"Interrogatory #3: State your working hypothesis that the site relates to a particular vessel or one among several vessels.
Answer: At this point in Odyssey’s investigation, there is no confirmation that this site represents any specific vessel. In fact, the most outstanding characteristic of this site is the actual absence of a vessel. Odyssey discovered, at the site, a large field of artifacts including coins and other ships cargo, but no ships hull, ballast pile or keel which is typically associated with a shipwreck. One vessel Odyssey has considered which may be related to the site is the “Nuestra Senora de las Mercedes y la Animas” (the “Mercedes”) a Spanish vessel which had been assigned to transport mail, private passengers and consignments of merchant goods and other cargoes at the time of its sinking in 1804. There is information under review, however, which may be inconsistent with a hypothesis that the wreck site is that of the Mercedes. Among other things, this conflicting information includes report that the Mercedes has already been located in a different location.
Odyssey is also considering the following theories:
1. The distribution of the artifacts could indicate jettisoned cargo, although pattern would have required the ship to remain in a relatively small area while the cargo was being jettisoned, which may have been possible depending on the weather and currents.
2. The cargo nay have come from a ship which was lost in a storm in the area. This site lies in a heavily traveled area, and there were possibly other ships lost during the Colonial period which could account for this silt, but have so far eluded our researchers and archivists.
3. The cargo may have come from a pirate ship that is reported to have been lost in he area during the period that correlates with the dates on the coins documented to date.
Analysis of the data from the site is ongoing and individual artifacts are being conserved and analyzed to determine whether they support any of these hypotheses.
Odyssey believes that additional research and archaeological excavation will need to be undertaken at the site in order to prove or disprove any of these theories."