Nate ’n Al, the Beverly Hills institution that was about to serve its last pastrami sandwich, has new life, thanks to Shelli and Irving Azoff.

The two celebrity preservationists—the driving forces behind the restoration of the Forum, another L.A. landmark—organized a coalition of fellow showbiz investors including UTA’s Jay Sures, NBC Universal’s Jeff Shell, real estate magnate Mike Meldman, entrepreneur Rande Gerber and wife Cindy Crawford to buy the iconic delicatessen. This according to The Hollywood Reporter, which cites sources close to the action.

Many a deal has gone down at Nate ’n Al, which has been a gathering place for showbiz machers since it opened its doors in 1945. But its continued existence was threatened when third-generation owners Mark and David Mendelson decided to sell the deli, located at 414 Beverly Dr., whose value as prime 90210 real estate was presumably greater than its nostalgia-fueled allure for showbiz old-timers.

Enter the Azoffs, who were determined to maintain the 73-year status quo.

Sources tell THR that the plan is to move the restaurant from its current location to a new spot in Beverly Hills' commercial district, possibly a few blocks away in the space occupied by Wolfgang's Steakhouse at 443 N Canon Dr. The deal is expected to close April 1.

There’s no truth to rumors that the new owners will rename the deli Shelli ’n Irving.