Frankie Dettori has filed for bankruptcy in a shock move after failing to resolve financial difficulties with HMRC.
The legendary jockey is currently riding in America after a career in Britain that lasted over 35 years and included multiple big-race wins including the Derby twice and his 'Magnificent Seven' at Ascot in 1996.
In a statement, Dettori 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."
More from Sporting Life
- Racecards
- Fast results
- Full results and free video replays
- Horse racing news
- Horse racing tips
- Horse racing features
- Download our free iOS and Android app
- Football and other sports tips
- Podcasts and video content
Safer gambling
We are committed in our support of safer gambling. Recommended bets are advised to over-18s and we strongly encourage readers to wager only what they can afford to lose.
If you are concerned about your gambling, please call the National Gambling Helpline / GamCare on 0808 8020 133.
Further support and information can be found at begambleaware.org and gamblingtherapy.org.