Bradley Wiggins has had a bankruptcy petition brought against him by the UK tax authorities, which was dismissed after a brief court hearing.
The petition was brought by HM Revenue and Customs in connection with monies owed to the tax authorities.
However, the petition was dismissed, meaning Wiggins was not declared bankrupt, after the High Court in London was told Wiggins representatives had met with HMRC personnel last month.
Media reports in Britain said the court was told Wiggins, who separated from his wife Cath earlier this year, had been experiencing financial issues.
However, Wiggins has a net wealth estimated in the millions and the High Court in London was told lawyers for the five-time Olympic champion had met with HMRC personnel on July 14th to devise a solution to the tax issues.
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It was not stated in court how much was at the centre of the case but a petition for bankruptcy can be brought against a person for a debt as low as £5,000 in Britain.
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If a petition was granted it would effectively mean the party who applied for it could take possessions of the person who owes money and sell them to settle the debt.
After the petition was dismissed by Judge Daniel Schaffer he ordered Wiggins to pay the costs of the hearing, of £916.
Wiggins won the Tour de France in 2012 and retired from
competitive cycling four years later after winning a team pursuit gold medal at
the Rio Olympics with Great Britain.
Since concluding his lucrative cycling career he has become involved in other businesses and has worked commentating, and on a podcast show, with Eurosport.
He has a commercial relationship with the Le Col cycling apparel
brand and the Halfords cycling and motoring chain while previously working with
Skoda.
Recently former pro rider Sean Yates said when he needed surgery after a life-threatening accident Wiggins had bought his Tour de France yellow jersey from him and he used some of the money to pay towards his medical bills.
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