Another deadline has come and gone to remove the Captain John’s ship from the foot of Yonge Street, leaving the former seafood restaurant floating in the harbour — but not for long, according to the storied vessel’s winning bidder.

James Sbrolla of North American Seafood Exchange says he’s struck a deal with Priestly Demolition and Toronto Brigantine that will hopefully see the ship, named the Jadran, moved next Friday.

But the ship can’t be moved as a whole, and will be taken apart.

“While we tried and tried to find a home for the ship as a whole we ultimately came to the conclusion that it was not possible for it to be “reused” as is,” Sbrolla told CityNews in an email. “We undertook a process to try and save as many elements of it as possible and are delighted to announce that we have two parties that are now working with us in partnership on this project.”

“Priestly Demolition will be the new owner of the Jadran,” he added. “We will work closely with Priestly to move the ship and stay involved where possible to ensure that there is as much saved as possible.”

“Our plan is to…move the Jadran on Friday, August 29.”

Sbrolla had the winning bid for the boat on July 31, pledging a total of $33,501. Sbrolla put down a deposit of $3,000, but failed to make the full payment by the Aug. 7 deadline.

He says the final payment was made on Friday.

“Today we delivered the balance of funds to the Toronto Port Authority’s counsel and intend to finalize the acquisition of the Jadran/Captain John’s.”

With files from Patricia D’Cunha