Emerson Fittipaldi is facing serious financial difficulties in his native Brazil, with cars and trophies belonging to the two-time Formula One World Champion reportedly having been seized by local authorizes.
According to an AP report, the 69-year-old is facing more than 60 lawsuits from banks and other businesses seeking payments, with Brazil’s Record TV reporting that his debts currently reach nearly $8 million.
Fittipaldi served as the promoter of the FIA World Endurance Championship round at Interlagos, which ran from 2012-2014, but the event did not return last year due to what the series attributed to the country’s financial situation.
It was known from multiple sources that Fittipaldi’s company had late or unpaid payments relating to the WEC event.
Among the possessions seized from his personal museum included his 1993 Indy 500-winning car and and a car he drove in F1.
A statement released by Fittipaldi’s press office, provided to AP, said his difficulties were “the result of an unstable financial and political scenario” in Brazil and that they are optimistic of him overcoming the situation.
Fittipaldi made a one-off return to driving in the WEC Six Hours of Sao Paulo race in 2014, in an AF Corse-entered Ferrari F458 Italia GT.