Brazilian courts seize Emerson Fittipaldi’s 1989 Indy 500-winning car

Courts reportedly order Fittipaldi to use assets to pay off debts Former Formula One and Indy-car 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 F1 world champion, has accumulated debts to the tune of $27 million. The report said Brazilian courts have now acted, ordering the confiscation of cars and trophies belonging to Fittipaldi amid the bankruptcy of multiple businesses and orange farms of his.

Officials reportedly seized Fittipaldi’s 1989 Indy 500-winning car from his offices and museum, as well as 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 an F1 career that lasted 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.

By GMM