By KEYNOTER STAFF

Remains of the famed English sailor reportedly lie somewhere in Panama's Portobelo Bay, where an expedition backed by Croce has identified four-century-old shipwreck remains as being from from Drake's 1596 fleet.

Croce - a Key West business owner and part-time resident - is diving with the Deeptrek expedition team this week.

"This is absolutely a dream come true, to find the ships of the most successful pirate in history, who singlehandedly wreaked havoc on Spain's New Empire," Croce said in statement issued by his St. Augustine Pirate and Treasure Museum.

Croce formerly owned the Philadelphia 76ers and built a thriving chain of physical-rehabilitation clinics. The adventurer now focuses on motivational speaking and following his life-long fascination with pirate history.

Croce has authored several best-selling books, and this year released 'The Pirate's Handbook' on how to master skills needed to survive as a buccaneer.

He lists Sir Francis Drake, who died of disease while anchored in Portobelo Bay, as "his favorite pirate of all time."

Drake was buried at sea, supposedly inside a lead coffin, to keep the Spaniards who hated him from finding the body.

Drake's two ships, the "Elizabeth" (named after the queen who knighted Drake) and the "Delight" then were scuttled by their crews in Portobelo Bay.

Drake harassed Spanish shipping for decades and was the first English sailor to circumnavigate the globe. Burnt ships' timbers, believed to be from the Drake ships, were discovered earlier this month in Panama.

The expedition's maritime archaeologist, Jim Sinclair, confirmed the wrecks' identities, according to spokesmen. Sinclair also worked on the search for the treasure galleon Senora de Atocha off Key West.

Croce opened his Pirate's Soul Museum in Key West to house his collection of pirate artifacts, but last year relocated the museum to St. Augustine.

St. Augustine draws more history-oriented visitors, and also is the site of a 1596 raid by Drake who had the settlement burned to the ground.

Croce continues to maintain a Key West residence and owns other Key West businesses.