W Series’ third season has come to an abrupt halt after monetary challenges have pressured the cancellation of its closing three races.
British driver Jamie Chadwick, who has gained each earlier trophies, held a 50-point lead heading into the subsequent scheduled race at Circuit of the Americas and can once more be topped champion.
However, that race, plus the double-header scheduled for Mexico City from October 28-30 have been cancelled.
Organisers revealed in an announcement the choice was made largely as a result of “the required funding due to the business from a recent contracted investment was not received” when it was anticipated in mid-September.
It resulted in a severe cash-flow difficulty acquainted to what drivers within the all-female grid had skilled of their careers exterior W Series.
W Series CEO Catherine Bond Muir believes the scenario displays wider fiscal challenges throughout girls’s sport and for feminine drivers particularly.
She mentioned: “I had a Zoom call with the drivers and it was incredibly similar to the conversation I had with them about cancelling 2020 because of Covid.
“They are drivers in their blood and all they want to do is race and they were incredibly upset. At the same time they were understanding, but really the feeling that came out of it was ‘yeah, this is rubbish, but Catherine, this is what we’ve dealt with for 20 years.
“‘We’ve had promises of money, we’ve had contractual commitments for money and they haven’t come through, we’ve had lots of people saying they are going to support us and it doesn’t happen’.
“It was more of a feeling of ‘welcome to our world.’ I think they are concerned about the structure of the business going forward, and whether they’ll be asked to supply money next year, and I’ve said as far as we’re concerned at the moment we want to keep the DNA of W Series going, and that it is our intention to still be providing all of the expenses for the drivers.”
While W Series covers most drivers’ bills, many maintain different jobs and a few, together with British driver Alice Powell, have credited sources out there to them by means of W Series as career-saving.
Bond Muir stays “extremely confident” that there’ll nonetheless be a fourth incarnation of W Series subsequent 12 months, although she is uncertain if it is going to nonetheless exist as an F1 help collection.
She defined that the problem this 12 months was the timing of the most recent funding blow, which meant even potential buyers couldn’t give you the money shortly sufficient to save lots of the season.
Bond Muir mentioned: “We were speaking to a number of people and we have continued those discussions. We’ve had offers from a number of people but the problem is getting money in doesn’t sort of happen at the shake of a money tree, and people have got to go through due diligence.”
A double-header in Mexico, a part of W Series’ second season as an F1 help collection, was as a consequence of conclude the 2022 calendar. Instead, mentioned Bond Muir, cancelling these races will “enable cost cutting” and permit her group to give attention to fundraising for the long run.
Other elements have compounded the scenario. The international monetary downturn has created a chasm between projected and precise prices for the ultimate races. Guest limitations throughout W Series’ pandemic-affected second season meant they had been much less in a position to invite potential buyers to the paddock, and those who did go to didn’t get the total expertise organisers might solely supply this season.
With the win, Chadwick must be entitled to a $500,000 (£452,426) cheque, with further cash owed to drivers down the desk, together with second-placed Beitske Visser and Powell, who positioned third.
Bond Muir added: “Where I sit at the moment, I expect that to be paid out. I can’t say 100 per cent…but where I stand at the moment, I don’t see any reason why that won’t be the case.”
Source: www.unbiased.co.uk