W Series – bankrupt, remote management introduced to the series

The W Series, the first international women’s racing series in motorsport history, is going to external management after all attempts to find new investors failed.

The 2022 season was the third in its history, but it could not be completed, only seven of the ten planned stages passed and the Singapore race was the last. Further developments showed that it was the last in the history of this championship.

Negotiations with potential investors about a possible rescue of the W Series lasted eight months, but were unsuccessful. Since the company’s financial situation is downright deplorable, matters have been turned over to crisis managers – these duties have been entrusted to Kevin Lee and Henry Schinners of the law firm Evelyn Partners LLP.

“This news will upset the company’s employees and racers, as well as fans around the world who have been following this championship,” said Lee. – The company could not organize the 2023 season due to the economic situation. Management is negotiating with various parties regarding additional financing and a possible sale of the company. Unfortunately, no progress has been made.”

David Coulthard, one of the shareholders of the W Series, in the May edition of the Formula for Success podcast, accused potential investors of not keeping their promises: there were quite a few companies investing in motorsport, but their tirades about the need for diversity and inclusion kept talking.

They even said they would give money but they didn’t. It looks like this chapter is coming to an end, but the W Series will be continued by the likes of Jamie Chadwick (three-time series champion) and Naomi Schiff (now part of the Sky Sports F1 expert team).

Thanks for everything, W Series! — this is how Jamie Chadwick reacted to today’s news. “Thanks to her, my life has changed and new career opportunities have opened up, for which I will be eternally grateful!”