Top jockey Frankie Dettori says he will file for bankruptcy

LONDON (AP) - Frankie Dettori, one of the most successful jockeys in horse racing history, has announced he will file for bankruptcy to resolve a dispute with British tax authorities.

The 54-year-old Italian, who is now based in the United States and still racing, has been involved in a legal dispute with HM Revenue and Customs, which denied some tax deductions that he had claimed.

"For the last six months, my advisers have been working with HMRC in an attempt to find a solution to my financial situation," Dettori said in a statement widely reported by British media Thursday.

"Regretfully, I will be filing for bankruptcy," he continued. "I am saddened and embarrassed by this outcome and would advise others to take a stronger rein over their financial matters."

Dettori, who famously went through the card with seven winners in seven races at Ascot in September 1996, has amassed more than 3,350 victories.

Based in Britain for more than three decades, Dettori announced in December 2022 that he would retire at the end of the 2023 season, but he reversed that decision and moved to compete in the United States.

Last April, Dettori won six straight races at Santa Anita and did his trademark flying dismount after each trip to the winner's circle.

Filing for bankruptcy "is a major decision and its consequences will affect me for many years," he said.