Published: May 17, 2013 2:32 PM EDT

FORT MYERS, Fla.- There may be life after all for the Royal Palm Yacht Club in Fort Myers.

The commodore said the club may have found a buyer, who will allow the facility on the Caloosahatchee River to remain open, in a scaled-back fashion. That means no food or drinks, just the club and the marina operations. Nearly 30 food and beverage workers are being let go.

The club has lost members, and cannot afford to keep paying two mortgages on the property.