Frankie Dettori 'saddened and embarrassed' after revealing he is filing for bankruptcy

Frankie Dettori, the world's most famous jockey, has announced he is filing for bankruptcy.

Dettori, who revealed he had been unsuccessful in efforts to resolve financial difficulties with HMRC, said: “For the last six months, my advisers 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."

In December last year, it was revealed in the Upper Tribunal Court that Dettori had been involved in a dispute with HMRC over a scheme to reduce his income tax payments. The rider had sought anonymity during the proceedings, but this was lifted following applications to the court by HMRC and the media.

After being named publicly, Dettori released a statement saying he had been “working closely” with HMRC to “unravel the mess” he said he had been put into by former advisers. The jockey also insisted that the outstanding amount owed to HMRC had been paid prior to the anonymity order being lifted.

Frankie Dettori moved to ride full-time in the US in 2023

Dettori, a three-time champion Flat jockey in Britain, said at the time: “A few years ago, I employed the services of professional specialist tax advisers to look after mine and my family’s financial affairs.

“A structure was created and I was told that it had been approved by HMRC. Years later HMRC is now challenging that structure. My former advisers have since been dismissed.”

The validity of the structure established for Dettori to reduce his income tax payments was challenged by HMRC with the rider asking for the case to be paused in 2019. He later applied for the hearing to be private, with a subsequent judge allowing Dettori to be anonymous in 2022.

Dettori, 54, is the best-known jockey worldwide with a string of big-race successes to his name. He famously rode all seven winners on the Queen Elizabeth II Stakes card at Ascot in 1996 and has appeared on popular television programmes A Question of Sport, where he was a team captain between 2002-04, I’m A Celebrity . . . Get Me Out of Here and Celebrity Big Brother. His appearance on Big Brother came during the rider’s six-month ban in 2012 following a positive test for cocaine. 

Frankie Dettori: appeared on I'm A Celebrity . . . Get Me Out Of Here in 2023Credit: Joel Anderson

At the end of 2022, Dettori announced he would be retiring from riding at the end of the following year. However, the jockey enjoyed a memorable 2023 and reversed his decision, instead moving to the US to continue his career.After initially setting up in California, Dettori switched to Florida last month.

Last year Dettori, whose net worth had previously been estimated at £15 million, rode 81 winners with his mounts earning more than $13 million in prize-money. In 2025, Dettori has ridden 11 winners with his rides earning just over $1m.

A bankruptcy application can be made when an individual is unable to pay their debts and has no realistic prospect of being able to do so. The individual’s assets are used to pay off their debts with the bankruptcy period being discharged after 12 months.

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