W . seriesthe open cake series only women dispute on fully funded trips, there may be serious difficulty, walkie talkie report – to the point that the final races of this season are in jeopardy. this comes down the combination of high costs start a new series of races and the recent sharp drop in the pound sterling.
walkie talkie reported that the sources reported the publication of significant financial concerns. Like W Sseries heading to Singapore for the upcoming race this weekend, Telegraph said that a naked crew would “not send anyone” from supporting the series to Asia. More, Telegraph reports that other sources claim the series has failed to pay “bills worth thousands of pounds, some of which date back months” while Velocity Experience, the owner of the W Series, is in debt. .
It also provides some background information:
The most recent W Series accountts filed with Company House on 5 September shows it has a net debt of more than £7.5 million through December 31, 2021, which is considered “in line with expectations given the business is in a period of progress. start up”.
Speaking on Wednesday night [W Series CEO Catherine] Bond Muir said the current global financial crisis and pocket dropsd, just makes her job harder.
Company House is a registrar for British companies; it regulates and maintains company records. Said above £7.5 Millions of dollars in debt is considered a fairly normal expense for a large start-up, especially one related to motorsport.
However, financial advocates who were able to reduce that debt were not imminent, and walkie talkie report that Bond Muir reveals the difficulties that even had to be completed last year – something that has only now been exacerbated by an alleged US investor who pulled out at the last moment.
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Bond Muir is confident that W Series will soldier on, even if it just takes some financial finagling to eke out the rest of this season. But if worst comes to worst, The Telegraph notes that the final races of W Series’ season — doubleheaders in Austin and Mexico City — could fail to go ahead. W Series’ total prize pot of $1.5 million, the publication says, is not guaranteed to be distributed.
While W Series as a concept has faced some criticism, it is undoubtedly a positive thing to afford women more opportunities in the motorsport world.
