A $9.1 million luxury yacht sank off the coast of Sardinia in Italy just four days after it was delivered to its new owner. The 98-foot Angiola II was carrying 14 guests and crew members when it suffered an engine failure and caught fire near Porto Cervo on Tuesday. Everyone on board was rescued and no injuries were reported.

The yacht began taking on water after the fire and eventually tipped onto its side before disappearing beneath the Mediterranean. Videos from the area showed the vessel gradually sinking in the waters between L'Isola dei Cappuccini and Capo Ferro along Sardinia's Costa Smeralda, also known as the Emerald Coast.

Most of the 14 people on board were rescued by a nearby vessel, while the owner, reportedly an Italian businessman whose identity has not been disclosed, was said to have been the last person to leave the yacht. The passengers and crew waited for Italian authorities to arrive and assist them safely back to shore.

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Following the rescue operation, the partially submerged yacht was secured on the seabed. Officials said there appeared to be no fuel leak from the vessel. The yacht eventually settled at a depth of about 23 feet, or seven metres, according to reports.

The Angiola II was built in 2020 by Italian shipbuilder Permare and is an Amer F100 model. The four-engine yacht can accommodate up to 10 guests in five cabins and has space for five crew members. It can reach a top speed of 28 knots, equivalent to more than 32 mph or 52 kmph.

Italian authorities have launched an investigation into the incident. The Coast Guard is examining the cause of the engine failure, fire and subsequent flooding. Authorities are also preparing to deploy a 220-ton pontoon boat as part of efforts to recover the yacht from the seabed.

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