W Series end of season at risk due to financial straits

©WSeries

40

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.

Read also: Chadwick still targeting a seat in F1 'within five years'

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.

©WSeries

"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."

Keep up to date with all the F1 news via Facebook and Twitter

Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.