2007 was a very difficult year for Valentino Rossi. In addition to being outclassed by a blisteringly fast Australian on a Bridgestone-shod Ducati, the Italian faced a gargantuan 112 million euro tax bill from the Italian authorities, who claimed that Rossi had actually been living in Italy while claiming to be resident in London. Early in 2008, Rossi reached a settlement with the Italian tax authorities, agreeing to pay around 30 million euros in back tax, a move which also allowed him to move back to Italy and live in Tavullia amidst his friends and family. Peace and stability had returned to Rossi's existence.
That tranquility is about to be rudely interrupted. According to reports from the Italian press agency ANSA.it, Valentino Rossi is about to be sued by his accountants, the very people who got him out of his previous tax troubles. The accountants firm Cesaroni-Cappellini are claiming that Rossi owes them between 1.7 and 2.5 million euros in fees. The firm claim that their agreement with Rossi include a clause granting them between 1% and 1.5% of the money they managed to save him in taxes. As the reduction in Rossi's tax bill they are claiming to have achieved is around 170 million euros, that would leave Rossi with multi-million euro bills to pay.
The firm of accountants told ANSA that they were "very disappointed" at being unpaid after saving Rossi such a significant amount of money. According to GPOne.com, Massimiliano Tasini of Cesaroni-Cappellini's Pesaro office said that the firm had kept a low profile so far, to avoid damaging the reputation of the reigning World Champion, but they could no longer let the situation stand. Tasini described the amount owed by Rossi as "infinitessimally small" in relation to their entire annual turnover, but said that the amounts they had saved Rossi were significant.
The firm is due to issue a press release on Monday containing full details of the case, and will be presenting the case to the Italian Order of Accountants. If the Order finds in Cesaroni-Cappellini's favor, Rossi would have 40 days to appeal against the ruling.