Oct.11 (GMM) The all-female open wheel support series for Formula 1 has collapsed with two races still to run in 2022.
We reported a fortnight ago that the ‘W Series’ was on its last legs after the Singapore event, with reports revealing that “significant sums” are owed to creditors.
“We’re looking at our budgets,” said series boss Catherine Bond Muir. “We’re confident that we’ll continue to raise money.”
Those efforts, however, have failed for now, with Bond Muir now confirming that W Series will not be accompanying Formula 1 either to Austin or Mexico.
“According to our regulations, we need six races to complete the championship,” she is quoted by Algemeen Dagblad newspaper.
“We’ve had seven races, so yes, Jamie (Chadwick) is now the de-facto champion.”
She admits that the series, said to be over 8 million euros in debt, simply ran out of money.
“We’ve had offers from a number of people, but the problem is that raising money doesn’t happen by shaking a money tree,” said Bond Muir.
“But I am extremely confident that W Series will still be there next year. We will definitely be racing again next year and hopefully in the United States.”