The iconic cruise ship that served as the model for the hit ABC series "The Love Boat" may be scrapped, reports the Los Angeles Times’ Show Tracker.

The Pacific Princess, which was featured in the show’s opening credits, has been idle at an Italian port for more than a year after its owners failed to pay for asbestos removal and updating, the story says.

The ship has been sold for $3.3 million to a Turkish company that’s known for demolishing ships, the article adds.

"The Love Boat" ran from 1977 to 1986, while the ship was built in 1971, according to the piece. The show was a big hit for ABC, which cast a series of high-profile guest stars as passengers on the vessel.