Dettori 'embarrassed' after filing for bankruptcy

Frankie Dettori bid farewell to British racing with a double triumph at Ascot in October 2023

Veteran jockey Frankie Dettori says he feels "embarrassed" after he filed for bankruptcy having been unable to reach agreement with His Majesty's Revenue and Customs over a long-running case of tax avoidance.

The 54-year-old Italian, a mainstay of the British and European flat-racing scene for 37 years, has ridden more than 3,300 winners during his career.

Dettori's financial situation became public knowledge in December last year when his plea for anonymity lodged in November was rejected by a High Court judge.

The case was brought against Dettori after he had employed professional specialist tax advisers to oversee his and his family's financial affairs.

Dettori, who was awarded an MBE in 2001, terminated relations with those advisers last year and subsequently employed the services of a different set of financial experts in attempt to resolve the case.

"For the last six months, my advisors have been working with HMRC in an attempt to find a solution to my financial situation," Dettori said in a statement.

"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."

It is estimated Dettori, now based in California, has earned between £15-£20m from racing alone.

He has also made a name for himself outside racing, having been a captain on BBC programme A Question Of Sport, appeared on Celebrity Big Brother and I'm A Celebrity...Get Me Out Of Here and opened a series of Italian restaurants.

There has been no indication how much Milan-born Dettori, who partnered 287 Group One winners and rode all seven winners in one meeting at Ascot in September 1996, owed.

A HMRC spokesperson said: "We take a supportive approach to dealing with customers who have tax debts and do everything we can to help those who engage with us to get out of debt, such as offering instalment plans."

Dettori stopped riding in the UK in 2023 but has continued his career in the United States and says he now hopes to be able to concentrate on his day job.

"I am relieved to be drawing a line on this long-term matter, which enables me to reset and focus on my international riding career," he said.