Thursday, April 07, 2016

Two-time Indy 500 winner Emerson Fittipaldi is facing serious financial difficulties in Brazil, with authorities seizing trophies and racing cars from his personal museum.

Fittipaldi's press office released a statement saying that the difficulties are "the result of an unstable financial and political scenario" in Brazil, which is in political turmoil and facing its worst recession in decades.

Fittipaldi is reportedly facing more than 60 lawsuits from banks and other businesses seeking payments. Record TV said Fittipaldi's debts reach nearly $8 million.

Rede Record (Record TV) showed on its Sunday Spectacular news magazine that the Penske Racing Indy-winning car, car #20 1989 Indianapolis 500 and the Copersucar, the only Brazilian team car in F1 history, along with trophies and office furniture that Fittipaldi kept as part of a personal museum, were seized after creditors went to court seeking repayment of debts that total approximately $7.5 million.

Last week, the court decided to take the cars, trophies and even advertising at the Fittipaldi museum and office, Avenida Rebouças, São Paulo. Fittipaldi owns ten companies in São Paulo, some of which no longer exist, many of them are already bankrupt and pending payment for services rendered,  through which creditors are requesting seizure, trade and mortgages. The F1 champion still has orange farms in the city of Araraquara, which could not be seized because they are in a state of disrepair.

At the end of 2015, the Justice blocked R $ 393,000 in their bank accounts, but only R $ 256.13 were found in more than 26 accounts.

The items are currently being held at the Interlagos race track and will be evaluated and auctioned off.


  1. Jesse, just FYI, it's "São" Paolo in Brazil. Portuguese instead of Spanish. (Pronounced like Sony without the "y.") SONE POW'-LOW

  2. Did I make a mistake? I only have the city name written once, it looks correct... I can't pronounce it anyway, but I do know from the past that the language there is Portuguese.

  3. Jesse, it makes me very sad to read this as My mom, sister and myself met this man at the glen in October '75. He had just clinched the second F1 world championship there after the race. I had the distinct honer to present him with a portrait sketch I did of him and his JPS Lotus F1. So sorry to see this happening to him.