Frankie Dettori, the world-renowned jockey, will remain legally bankrupt for an additional year after a court ruled he failed to comply with asset disclosure requirements and pay a substantial £765,000 tax debt. Despite earning an estimated £20 million during his illustrious career, the Italian rider, who retired for a second time last month, has not settled the debt stemming from his involvement in a tax avoidance scheme.
Court Hearing Reveals Non-Compliance
At a hearing in London on Thursday, lawyers representing the trustees of Dettori's bankruptcy petitioned for an extension of the order, citing his lack of cooperation. Stefan Ramel, acting for the trustees, informed the court that Dettori "has not complied and is still not complying" with requests for information about his assets, including inquiries about overseas properties.
Undisclosed Assets Surface
During an interview about his assets in December last year, Dettori claimed he had never owned properties abroad. However, subsequent investigations revealed "a number of properties that had not been disclosed to the bankruptcy trustees, in particular in France and Italy." Additional concerns were raised regarding a Piaget watch, a wine collection valued at approximately £70,000, and investments worth around £365,000.
Judge's Ruling and Potential Consequences
Chief Insolvency and Companies Court Judge Nicholas Briggs ruled that the bankruptcy order should continue until March 16, 2027, describing this as "not an unrealistic period" given Dettori's "blatant failure" to provide requested information. Judge Briggs emphasized, "There is much to uncover in this bankruptcy, and it may well be that criminal sanctions will be a useful tool for the trustees."
Dettori did not attend the hearing and was not legally represented. In England and Wales, bankruptcy orders typically end automatically after 12 months, but judges can extend them, leaving the individual bound by its terms and potentially facing criminal prosecution for non-cooperation.
Background and Previous Legal Issues
Dettori filed for bankruptcy in March last year, expressing at the time that he was "saddened and embarrassed" by the situation, attributing it to a previous financial adviser who left him to "unravel the mess." His retirement in 2023 was briefly reversed as he continued racing in the United States and South America before his final race in February.
The jockey, who won every British Classic at least twice and was British champion three times, has since taken an ambassadorial role with the Amo Racing team. His tax affairs have been contentious; in 2024, he lost a bid to remain anonymous in proceedings at a specialist tax tribunal after HMRC and media organizations challenged earlier decisions to hold some hearings in private.
Dettori's initial appeal against HMRC's denial of certain income tax deductions dates back to 2019, with subsequent legal maneuvers to keep his case confidential being overturned by the Upper Tribunal in December 2024 due to "material errors of law."
