The Coast Guard has located a sailboat that sank Sunday about 1 1/2 miles from the Pass-a-Grille marina.
The 20- to 24-foot sailboat is expected to be raised and salvaged by Wednesday. The Coast Guard has marked the area so that others don't hit the boat.
Five University of South Florida students rented the sailboat Sunday afternoon. The boat capsized as the students steered it into the Gulf of Mexico, northwest of Fort De Soto Park, officials said.
Four of the men swam about a mile to the park and were not seriously injured. Rescue crews plucked the fifth man from the rough surf. He was taken to a hospital with hypothermia. We is expected to make a full recovery.
The Pinellas County Sheriff's Office is investigating why the boat capsized and sank.
The owner of the boat, the rental company or the renter - depending on the rental agreement - is responsible for retrieving the boat.