Frankie Dettori files for bankruptcy with famous jockey left ‘saddened and embarrassed’

Frankie Dettori has earned an estimated £15m to £20m from riding (Picture: Getty)

Frankie Dettori has released a statement to announce he is filing for bankruptcy with the famous jockey left ‘saddened and embarrassed’.

The Italian, 54, based in England for a horse racing career which spanned over 35 years, has earned an estimated £15m to £20m from riding.

But Dettori got caught up in an alleged tax avoidance scheme and failed to find an agreement with His Majesty’s Revenue & Customs (HMRC).

Dettori, who stopped riding in Great Britain in October 2023 before taking up a new opportunity in the United States, is hoping he can now ‘reset and focus’ on his international career.

‘For the last six-months, my advisors have been working with HMRC in an attempt to find a solution to my financial situation,’ his statement read.

‘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.

‘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.’

More to follow…