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MOTOGP: Could Tax Woes Push Rossi Towards F1?
Written by: Dennis Noyes   
10/12/2008
Borrego Springs, CA
 
World Champion Valentino Rossi (Photo: Yamaha Racing) ยป More Photos

The Italian sports daily, La Gazzetta dello Sport, reports in an article published on Saturday, October 11, that the on-going investigation into the financial affairs of MotoGP World Champion Valentino Rossi has uncovered additional earnings for the 2005-2006 period and that the amount now owed by the FIAT Yamaha MotoGP rider has increased from 21.75 million dollars to 33.35 million for that two-year period, and this is only slightly less than half the amount that Rossi is obliged to pay on unreported income over the 2001 to 2006 period,

In February of this year Rossi reached an agreement with the Italian Tributary Agency (equivalent to the IRA) reducing the amount originally accessed
from nearly 90 million dollars to 50.75 million dollars, but his amount has now been increased by an additional 11.5 million dollars, bringing the new total now owed by Rossi to 62.5 million dollars (43 million euros).

This disclosure by the Italian tax authorities comes only a day after Formula 1 supremo Bernie Ecclestone said in an interview with the same paper that he hoped to see Rossi racing for Ferrari in Formula 1 “one day.”

And on the same day, Friday, October 10, Stefano Domenicali, Sporting Director of Ferrari, said in a SkyTV interview that plans were being made for Rossi to test a Ferrari again. No date was given for the test.


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