W Series owes millions to creditors

In June we wrote that the W Series has been declared bankrupt and external management has been brought in. Now the details of the dire financial situation of the first international racing series in motorsport history, which effectively came to an end in autumn 2022, have become known.

Crisis managers are liquidating this company and information has appeared in the British press about the organizations and individuals to whom W Series owes various amounts – the list of creditors is quite long.

She owes the largest debt, about £1.3 million, to Formula One Marketing Limited, and the F1 World Championship Limited series owes £184.5 thousand.

The W Series owes more than £1 million to UK catering companies, about the same amount to marketing agency Velocity Experience Limited, another £500,000 to logistics partner DHL International, and so on.

A separate category of creditors are the circuits that hosted the races of the women’s series, for example, the Barcelona circuit is not averse to getting their 66 thousand pounds, Paul Ricard – 14.8 thousand, Marina Bay in Singapore – 8 thousand, Hungaroring – 7.6 thousand.

The W Series did not pay with TV presenter Lee Mackenzie (38 thousand pounds) and British racer Billy Monger (16.8 thousand), who commented on the stages of the women’s championship and acted as experts.

In addition, hundreds of thousands of pounds have not been received by UK Revenue and Customs. It has not yet been reported whether there are realistic possibilities to at least partially cover the accrued debts.

Meanwhile, under the auspices of Formula 1, a new women’s series called the F1 Academy was created, and interesting and important changes await from next year – it will come “under the protection” of the World Cup teams, which will choose the racers themselves, and all cars of the series are painted in the colors of F1 teams.