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

Frankie Dettori, the world's most famous jockey, has announced he is filing for bankruptcy. In a shock statement, Dettori revealed he had been unsuccessful in efforts to resolve financial difficulties with HMRC.

World famous jockey Frankie Dettori lost a court battle in December last year to preserve his anonymity over his tax affairs - and he has now confirmed he is filing for bankruptcy

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

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.

Frankie Dettori has been attempting to untangle his tax arrangements in Britain after they were challenged by HMRC.

Veteran jockey Frankie Dettori says he feels "embarrassed" after filing for bankruptcy having been unable to reach agreement with HMRC over a long-running case of tax avoidance.