LONDON — Renowned jockey Frankie Dettori, celebrated as one of the all-time greats in horse racing, has disclosed plans to file for bankruptcy in a bid to resolve an ongoing issue with British tax authorities.
The 54-year-old, who hails from Italy but currently resides in the United States, continues his racing career overseas. He found himself embroiled in a dispute with HM Revenue and Customs (HMRC) after it rejected certain tax deductions he had claimed.
In a statement circulating through various British media outlets on Thursday, Dettori expressed, “Over the past half-year, my advisers have been actively negotiating with HMRC to address my financial predicament.” He added, “I am left with no choice but to declare bankruptcy. I am deeply saddened and embarrassed by this situation and urge others to maintain diligent oversight of their financial affairs.”
Dettori, who achieved international fame by winning all seven races in a single day at Ascot back in September 1996, boasts an impressive career tally of over 3,350 victories.
After spending more than thirty years in Britain, Dettori initially announced his intention to retire at the close of the 2023 season. However, he later reconsidered and opted to continue racing in the United States.
Just this past April, Dettori claimed victory in six consecutive races at Santa Anita, delighting fans with his signature flying dismount after each win.
“The decision to declare bankruptcy is significant, with implications that will influence my life for many years to come,” he concluded.
