Fla. explorers may lose vast treasure to Spain

A federal judge says deep-sea explorers based in Florida should give 17 tons of shipwreck treasure back to Spain.

Odyssey Marine Exploration said Thursday it will fight a federal magistrate judge's recommendation that the estimated $500 million in silver coins and other 19th century artifacts go to the Spanish government.

Another federal judge will consider the recommendation and decide.

Tampa-based Odyssey has been locked in a court battle with Spain over the ownership of the treasure since announcing the find in May 2007.

Federal magistrate judge Mark Pizzo wrote in an order Wednesday that Spain is the rightful owner of the treasure, which was being carried by a Spanish navy galleon when it sank southwest of Portugal in 1804.