Frankie Dettori's Financial Struggles: A Legendary Jockey's Battle with Bankruptcy

Frankie Dettori, a name synonymous with horse racing excellence, has recently found himself in the spotlight for reasons beyond the racetrack. The 54-year-old Italian jockey, who has been a dominant figure in British and European flat racing for over three decades, has filed for bankruptcy following a prolonged dispute with His Majesty's Revenue and Customs (HMRC) over tax avoidance issues.

Dettori, who has ridden more than 3,300 winners in his career, including 287 Group One victories, expressed his embarrassment and sadness over the situation. In a statement, he said, "I am saddened and embarrassed by this outcome and would advise others to take a stronger rein over their financial matters."

The financial troubles came to light in December last year when a High Court judge rejected Dettori's plea for anonymity. The case was initiated after Dettori employed professional tax advisers to manage his and his family's financial affairs. However, he terminated their services last year and sought new financial experts to resolve the issue.

Despite the financial setback, Dettori remains focused on his riding career. Now based in California, he has continued to compete in the United States, leaving behind his UK racing career in 2023. "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 added.

Dettori's career earnings are estimated to be between £15-£20 million from racing alone. Beyond the track, he has made a name for himself in various television appearances, including BBC's A Question of Sport, Celebrity Big Brother, and I'm A Celebrity...Get Me Out Of Here. He also ventured into the restaurant business with a series of Italian eateries.

A spokesperson for HMRC commented on the situation, stating, "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 installment plans."

As Dettori navigates this challenging chapter, his legacy in horse racing remains untarnished. His remarkable achievements, including riding all seven winners in one meeting at Ascot in September 1996, continue to inspire fans and aspiring jockeys worldwide.