The W Series is at risk of not being able to complete its final two rounds of its 2022 campaign due to a significant financial shortfall that could also put the future of the all-female series in jeopardy.
According to a report from The Telegraph, W Series owes "significant sums" to its creditors, including Whisper Films and hospitality company Velocity Experience, a situation that has left the series' promoters scrambling to raise funds.
W Series addition to Formula 1's support bill in 2021 was seen as a major boost for the junior championship.
But things haven't panned out as expected, and while its field of contenders will race in Singapore this weekend, the final fly-away events of the season in Austin and in Mexico City look increasingly unlikely.
The Telegraph claims that multi-million dollar American investor had bailed on the series.
W Series CEO Catherine Bond-Muir confirmed that the completion of this year's season could not be guaranteed, nor could prize money owed to drivers, including to soon-to-be three-time series champion Jamie Chadwick.
"We’re having lots of conversations at the moment and I’m very optimistic," said Bond-Muir, quoted by The Telegraph.
"We’ve had to fight from day one. It has always been a struggle but we’re fighters.
"We’re looking at our budgets," added Bond-Muir. "We’re confident that we’ll continue to raise money.
"You have to understand W Series is a brand new sport. Tennis has equality now because Billie-Jean King fought for those rights 50 years ago.
"Football is slowly starting to become more equal. Rugby? We saw recently that England’s women flew economy to the World Cup where their male counterparts flew business.
"It takes time. We’re only in our third season. But we have had a huge impact already and we are a force for good."