The Big Bear Pirate Ship, named the "Time Bandit," sank sometime Friday night. An employee at Holloway's Marina, where the vessel is docked, discovered the sunken ship Saturday morning.
The ship's owner planned to dive down to the ship on Monday to assess the situation.
He says he plans to raise the ship out of the water and repair any damage ahead of Holloway's Marina's 100-year anniversary this summer.
The "Time Bandit" is a one-third scale replica of a 16th century Spanish galleon. It's used for summer tours and can be rented for birthdays, weddings and other special occasions.
