Financial Difficulties Curtail W Series Season
W Series, the international single-seater motor racing championship for women, has confirmed that its 2022 season will be curtailed due to financial difficulties.
The news means that the final three races of its scheduled 2022 season – the Circuit of The Americas in Austin and a double-header at Autódromo Hermanos Rodríguez in Mexico City – will not go ahead.
The early finish to the season sees British driver Jamie Chadwick crowned champion for the third time after winning five of the seven races within the series.
The loss of an investor is thought to be the key reason for the early finish to the season with the W Series stating that ‘the required funding due to the business from a recent contracted investment was not received.’
“We have worked hard to raise the required funding to enable us to finish the season. Unfortunately, it was not possible to do this in the short time frame required“
CATHERINE BOND MUIR, W SERIES
According to a statement, the decision by W Series to cancel the remaining races has been made to focus on the longer-term fundraising process to enable the ‘longevity and financial health’ of the championship.
The series insists it will return in 2023.
Catherine Bond Muir, Chief Executive Officer, W Series, said, “We have worked hard to raise the required funding to enable us to finish the season. Unfortunately, it was not possible to do this in the short time frame required following the failure of contracted funds to arrive and the global economic downturn.
“However, while we are all incredibly disappointed that this decision has had to be made in the short term, we remain positive about the future of W Series in the long term.
“It is well-documented that women’s sports receive far less funding than its male counterparts, and W Series is no exception. We are incredibly thankful for the help and support we have received in recent weeks following the news of the financial difficulties we’ve been facing, which has accelerated our fundraising process and given us great optimism as we look to 2023 and beyond.
“While we aren’t in a position to make a formal announcement yet, there are many positive conversations ongoing and all parties share our passion for and belief in our mission to provide our incredible field of women drivers a platform to showcase their talents and to race in front of enthusiastic fans all around the world. We are doing everything we can to ensure the long-term financial health of our business and we look forward to W Series’ continued growth and success.”
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