VIDEO: The yacht sinks off the coast of Italy

A 130-metre superyacht sank off the coast of southern Italy on Saturday after members of the Italian coast guard rescued nine people from the sinking vessel.

Italian media this weekend reported that the yacht named "My Saga" has sunk off the coast of Catanzaro Marina.

Video from the scene shows the ship taking to the water before completely sinking.

Deteriorating weather conditions made it impossible for a rescue tug to bring the yacht to safety.

According to media reports, an investigation into what caused the ship to sink is underway.

The yacht was built in Italy in 2007, according to Super Yacht Times, and was traveling from Gallipoli to Milazzo under a Cayman Islands flag with an all-Italian crew when it sank. 

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