Italian motorcycling hero Valentino Rossi is at the centre of a multi-million-euro tax evasion probe, tax officials said on Wednesday.
They said the seven-time world champion was being investigated by the tax office over possible undeclared earnings of 60 million euros for the period 2000-2004.
The officials said the investigation was linked to Rossi's decision to take up British residency in 2000.
Rossi's London residency has enabled him to take advantage of favourable tax conditions, such as only declaring earnings made in Britain and avoiding taxes on his lucrative merchandising and sponsorship contracts, they said.
The tax office stressed that the 28-year-old sportsman had "residency in London but is not domiciled there".
It noted that in 2002, Rossi's Italian tax form declared earnings of 500 euros.
Rossi's sponsorship contracts were all reported to be made out to foreign companies but tax inspectors suspect that the racer's business affairs and interests are mainly based in Italy.
Prosecutors are expected to open an investigation into the case which could result in a fine of more than 80 million euros, legal sources said.
The Yamaha rider was probed for suspected tax evasion in 2002 but no evidence of wrongdoing was found and the case was shelved.
Rossi bagged four MotoGP titles in a row from 2002-2005.
In 2006, he lost out to America's Nicky Hayden while this year, he is second in the standings behind Australia's Casey Stoner with seven races to go.
Rossi is one of the world's highest paid sportsmen.
Last year, he was reported to have earned 12 million euros from his Yamaha contract and 25 million from sponsorship and merchandising deals.
