It will be his last season as a jockey.
One of the sport's best known figures has ridden more than 3,300 British winners.
His victories include 21 British Classic successes.
I will retire as a jockey next year. He said that he had been thinking about it for a while.
I have to use my brain if I want to continue riding. I want to go somewhere else. I think it's the right time.
The final rides of the Italian-born jockey could be at the same Californian track during theBreeders' Cup in the fall of 2023.
In September 1996, he won all seven races on the card at odds of 25,051-1 to become the first person in history to win seven races in a single day.
The pilot of the plane died in the crash. There was a man out of the wreck.
He was banned for six months in late 2012 for failing a drug test which he later admitted was cocaine.
He was the first jockey to work for John Gosden. There was a public split between the trainer and jockey in June of last year.
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He said it was a difficult decision because his heart wanted to continue riding but he had to use his brain.
I want to be competitive enough to do my owners justice next year and I think I'm still good. It was not easy, but it is the right thing to do.
I talked to my dad for a long time. My dad stopped at 51 and I had to talk to my wife and children who have not seen me in 35 years.
I have decided with the horses I have to ride and the firepower I have that I can finish my career on a big note. We will give it a try next year if I stay in one piece.
One day he was playing and the next he was on the bench. I don't want to end up like that, where I can't get rides in the big races. At the moment, I have good horses that I want to finish with.