All-female F1 support series already close to collapse
Sep.30 - The mission of powering a woman onto the Formula 1 grid has suffered a major setback, as it emerges that the so-called 'W Series' is on the brink of collapse.
The Telegraph reports that the series, in which only female drivers race at the wheel of Formula 3 cars during eight Formula 1 race weekends, may collapse after this weekend's event in Singapore.
The report said W Series owes "significant sums" to creditors and may not be able to afford to attend the last two scheduled events at Austin and Mexico.
Series boss Catherine Bond Muir tried to play down the situation.
"We've had to fight from day one," she said. "It has always been a struggle but we're fighters.
“We're looking at our budgets. We're confident that we'll continue to raise money."
However, the situation is so dire that it is feared runaway series leader Jamie Chadwick - who also won the first W Series championships in 2019 and 2021 - will not receive her $500,000 prize money this year.
That is because the series' accounts show that as of earlier this month, W Series owes $8.3 million euros.
F1 CEO Stefano Domenicali caused a stir last month when he said only a "meteorite" could accelerate the chances of a woman joining the F1 grid "in the next five years".
Chadwick, however, hit back by claiming that being on the grid in five years is in fact her clear objective.
"As great as the W Series is, it lacked the driving time and development that it needed," the 24-year-old Briton said.
"For that reason, I think I should go straight into F2."
But W Series boss Catherine Bond Muir insists she is still "optimistic" about the future.
"You have to understand W Series is a brand new sport," she said.
"Tennis has equality now because Billie Jean King fought for those rights 50 years ago. Football is slowly starting to become more equal.
"It takes time. We're only in our third season."
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Only for the current campaign's ending rather than for good, from what I've understood
But whats the yearly budget for this series? and whats this , the accounts for upto sept/dec 2021, any accountant taking a snap shot one day look at company accounts, could say - a company is insolvent, then the next day , the finances are very healthy,the problem occurs when an accountancy firm includes money not yet received in a firms accounts, to bolster/bump up the companies position if this does fail, id look at it as a failing on Stefano and his accountants, esp this year as the races coincide all on f1 weekends, very embarrassing, If sky do pay W series it won't be included in the accounts till 22 are produced and finally, this headline covers public accounts to dec 21 period, not Sep 30th 22 financial position, with different reporting responsibilities for limited companies to a plc.
Perhaps W series needs a MultiMillionaire benefactor who believes in Inclusion, Diversity, Equality, and Dresses, Oh if only...!
just proof nobody is interested. Women are free to race in any series they want.
Bottom line. Girls deserve a CHANCE to race at the highest levels in what has been a male dominated sport. A dedicated female series is not the answer. If a young woman shows desire and aptitude in karting or FF give her a hand up into F3. RB and the OEM's tout their 'young driver academies'. Get with it guys, time to start supporting the girls.
So we could have Haas with Jamie C and Msc jnr, i like kmag but , what would putting JC in the car do, the risk is to Mick , if she out qualified him i suppose, or even just matched him, i think shed cope with driving an f1 car personally
At a time in history when women are crying out and demanding they be given the same chance as men in both employment and in sports, why do we have a women only motor racing series? The women's lobby groups are demanding desexualisation in employment and sport, so the FIA creates a one sex competition!
IMO, if they are good enough they should be afforded the same opportunity to compete in F3 and F2 the same as the men and boys. If they can make the grade then they deserve to be given the chance in F1. There has never been a requirement that F1 drivers are male! F1 has always been open to those who possess the necessary skills, and financial backing, to compete ~ no matter what their sex.
Not looking good.......
3rd October 2022, 10:01 | Written by Will Wood
W Series CEO Catherine Bond Muir says that the championship has until “the end of next week” to secure financial support that will allow it to finish this season as planned.
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