LONDON (AP) — Frankie Dettori, a highly successful jockey in the history of horse racing, has revealed his intention to declare bankruptcy in order to settle a disagreement with British tax authorities. The 54-year-old Italian, now residing in the United States and still actively racing, has been in a legal dispute with HM Revenue and Customs over denied tax deductions he had previously claimed.
“In the past six months, my financial advisors have been collaborating with HMRC to find a resolution to my financial difficulties,” Dettori stated in a widely circulated announcement reported by British media on Thursday. “It is with regret that I will be proceeding with bankruptcy. I feel saddened and embarrassed by this outcome and urge others to oversee their financial affairs more diligently.”
Dettori, famous for his remarkable feat of winning all seven races at Ascot in September 1996, has accumulated over 3,350 victories. Having been based in Britain for over thirty years, Dettori had declared his retirement by the end of the 2023 season in December 2022, only to reverse his decision and compete in the United States.
Last April, Dettori achieved six consecutive wins at Santa Anita, punctuating each victory with his signature flying dismount in the winner’s circle.
Acknowledging that filing for bankruptcy “is a significant decision with long-lasting repercussions,” Dettori expressed his awareness that its effects will persist for years to come.
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