The King's Cup sailing competition is held in the waters of the bay of Palma de Mallorca. It is one of the major cruiser class regattas in the Mediterranean, and has become a top-level fixture on the international calendar.

The first edition was held in 1982, with some 50 boats taking part, of which 35 were Spanish and the rest from overseas. In 1990, this competition was the first regatta on the international circuit to adopt the new IMS boat classification system. In the 2004 edition, a new category (IMS 670) was established and added to those already in existence: IMS 500 and IMS 600.