Emerson Fittipaldi Is $7.45 Million in Debt

Emerson Fittipaldi's 1989 Indy 500 racing car 1 photo
Photo: Screenshot from R7
There are only a handful of Formula 1 drivers who can be as proud of their achievements on the circuit as Emerson Fittipaldi is. The 69-year-old Brazilian legend dominated Formula 1 in 1972 and 1974, he won the grueling Indianapolis 500 twice (1989 and 1993), and he’s also a CART national champ.
Other than being a successful racing driver, accomplished businessman, occasional TV personality, and the proud father of seven, Emerson Fittipaldi is in deep trouble. According to an exclusive video report published by R7, the one embedded below, old man Emmo is in a financial pinch.

According to the report, ten companies owned by the sporting icon are R$27 million ($7.45 million) in debt to Brazilian banks. Due to the mounting debt, the bankers made a request for the search and seizure of every valuable asset found in those companies, including the Patrick Racing Indy car that Emmo drove to victory in the 1989 Indianapolis 500, as well as the yellow single-seater featured in the photograph above.

On an even more sorrowful note, the debt collectors also took all the trophies they could find, even the office furniture. Moreover, the R7 report describes that the seized belongings have been transported to the Interlagos circuit (a.k.a. Autodromo Jose Carlos Pace) where they will be held, evaluated, and eventually auctioned off.

It pains me to say this, but what else would you expect to happen when creditors go to court and demand payment for their services? As a Formula 1 enthusiast and a person that lives and breathes cars and motorsport, I can’t help but feel for Emerson. This is an utmost shocking news flash, especially if you consider how great the man has been throughout his racing career and how proud he is as a human being.

Our thoughts are with you during this difficult time, old man Emmo.

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About the author: Mircea Panait
Mircea Panait profile photo

After a 1:43 scale model of a Ferrari 250 GTO sparked Mircea's interest for cars when he was a kid, an early internship at Top Gear sealed his career path. He's most interested in muscle cars and American trucks, but he takes a passing interest in quirky kei cars as well.
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