user icon

Emerson Fittipaldi in deep financial problems

  • Published on 05 Apr 2016 11:28
  • comments 0
  • By: Rob Veenstra

F1 great Emerson Fittipaldi has had legendary racing cars from his private collection seized amid reports of deep financial problems. O Estado de S.Paulo newspaper said 69-year-old Fittipaldi, one of Brazil's most famous racing names and a two-time world champion, has accumulated debts to the tune of $27 million.

The report said Brazilian courts have now acted, ordering the seizing of cars and trophies belonging to Fittipaldi, amid the bankruptcy of multiple of his businesses and orange farms. Officials reportedly seized Fittipaldi's 1989-winning Indy 500 car from his offices and museum, and the Copersucar F1 car that Fittipaldi raced in 1975. "The cars were disassembled and will be auctioned," the Brazilian newspaper said.

A spokesperson for Fittipaldi, who won 14 grands prix in his career until 1980, said the former McLaren driver is willing to negotiate with his creditors to settle the situation caused by the financial and political crisis gripping Brazil. "He has confidence in the economic future of the country and the financial health of his companies," the spokesperson added. (GMM)

Replies (0)

Login to reply

BE Grand Prix of Belgium

Local time 

BE Grand Prix of Belgium

Local time 

Related news

World Championship standings 2021

Show full world champion standings

Test calendar

Bahrain International Circuit - Winter testing

See full test schedule

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

Team profile

Show full profile

Formula 1 Calendar - 2021

Date
Grand Prix
Circuit
-
Bahrain
26 - Mar 28
Bahrain
16 - Apr 18
Italy
7 - May 9
Spain
20 - May 23
Monaco
4 - Jun 6
Azerbaijan
18 - Jun 20
France
25 - Jun 27
Austria
2 - Jul 4
Austria
16 - Jul 18
United Kingdom
30 - Aug 1
Hungary
27 - Aug 29
Belgium
3 - Sep 5
Netherlands
10 - Sep 12
Italy
24 - Sep 26
Russian
1 - Oct 3
Singapore
8 - Oct 10
Japan
22 - Oct 24
United States of America
29 - Oct 31
Mexico
5 - Nov 7
Brazil
19 - Nov 21
Australia
3 - Dec 5
Saudi Arabia
10 - Dec 12
United Arab Emirates
See full schedule

Formula 1 Calendar - 2021

Date
Grand Prix & Circuit
26 - Mar 28
16 - Apr 18
7 - May 9
20 - May 23
Monaco Monte Carlo
4 - Jun 6
Azerbaijan Baku City Circuit
18 - Jun 20
France Paul Ricard
25 - Jun 27
Austria Red Bull Ring
2 - Jul 4
Austria Red Bull Ring
16 - Jul 18
United Kingdom Silverstone
30 - Aug 1
Hungary Hungaroring
27 - Aug 29
3 - Sep 5
Netherlands Circuit Zandvoort
10 - Sep 12
Italy Monza
24 - Sep 26
Russian Sochi Autodrom
1 - Oct 3
8 - Oct 10
22 - Oct 24
United States of America Circuit of the Americas
29 - Oct 31
5 - Nov 7
Brazil Interlagos
19 - Nov 21
Australia Albert Park
3 - Dec 5
Saudi Arabia Jeddah Street Circuit
10 - Dec 12
United Arab Emirates Yas Marina Circuit
See full schedule
show sidebar