W Series: women’s racing series goes into administration after third season ended early

The all-female championship W series has gone into administration following an uncertain financial year which saw the competition end its third full-season early.

The W series held its inaugural season in 2019 as part of the DTM’s support bill. After the 2020 season was cancelled due to Covid-19, the series returned and was put on the Formula 1 support bill.

However, in 2022, the season was forced to end early due to fundraising issues and Jamie Chadwick secured her third consecutive title after the Singapore round last September. At the time, it was hoped the series would return in 2023 but on Wednesday 14 June, Kevin Ley and Henry Shinners of Evelyn Partners LLP were appointed joint administrators.

The administrators said only one staff member remains but now they have also been made redundant. They also added they will “explore all available options to allow the W series to restart in the future.”

The series was essentially replaced by the 2023 F1 Academy which launched as a junior championship for female racers equivalent to F4.

What has been said?

Administrator Kevin Ley said: “The news will be upsetting for the Company’s employees and drivers together with the worldwide supporters of the championship. The Company had been unable to commit to the 2023 race season due to its liquidity position.

“The directors had been in discussions with various parties to provide additional funding together with a potential sale of the business. Unfortunately, these discussions did not progress.”

His fellow joint administrator, Shinner, added: “The Joint Administrators will explore all available options to allow the W Series to restart in the future.

“We are seeking expressions of interest in the business and assets of the Company. We would ask that any interest is registered with us as quickly as possible.

“Staff had been made redundant or had left the business before our appointment and it has unfortunately been necessary to make the remaining staff member redundant.

“The Joint Administrators will be looking to support any staff impacted by the Administration, given the financial position of the Company, with making and progressing any claims with the Redundancy Payments Office.”