Legendary jockey Frankie Dettori has revealed he's filing for bankruptcy after running into financial difficulties with HMRC. The Italian is considered one of the greatest riders of all time, boasting 40 victories at Royal Ascot alone.
Dettori won his first race as a jockey at Goodwood in June 1987 and was crowned British flat racing Champion Jockey three times. and had been estimated to have an individual net worth of around £18 million.
Dettori's wealth is now at risk, though, with the 54-year-old working with HMRC to try and resolve his financial situation. In a statement, he said: "For the last six months, my advisors have been working with HMRC in an attempt to find a solution to my financial situation. Regretfully, I will be filing for bankruptcy.
"I am saddened and embarrassed by this outcome and would advise others to take a stronger rein over their financial matters. Bankruptcy is a major decision and its consequences will affect me for many years."
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