W Series Disappoints Again as Drivers Fail to Receive Prize Money

The all-female W Series has been facing financial unrest, leaving numerous drivers without their entitled prize money from 2022.

A couple of weeks ago, the W Series entered administration, a mere eight months after the termination of the previous season due to financial distress.

The W Series was unique as a free-entry single-seater championship with a $1.5 million prize fund distributed according to the final standings each season. This money was seen as a major support system for the drivers.

However, contrary to Catherine Bond Muir, CEO of W Series, hopes of full prize money payment, things did not pan out as expected. Former drivers Alice Powell and Abbi Pulling stated to TopGear.com:

"We're yet to see any of the money we're owed for our results last year."

They finished third and fourth respectively and should've received $125,000 and $100,000 each.

The issue is not limited to these drivers. Multiple other drivers, W Series' employees, and suppliers have been impacted by this financial hiccup, including the three-time champion Jamie Chadwick, who is said to be owed $500,000.

Despite these issues, many W Series drivers still appreciate the series and its organisers. Alice Powell expressed that W Series had "kickstarted" her motorsport career. She explained the situation saying:

"There’s two sides to it. A lot of people at junior category levels - let’s say F2, F3, Formula Regional - they don’t get prize money. They don’t get paid down the order to last position. But obviously then at the same time, that [the prize money] was a big thing for the championship."

The question of whether the drivers will ever receive the money they've earned still hangs in the balance. Kevin Ley, Joint Administrator of W Series Limited and Director at Evelyn Partners, said:

"Once this process has been completed and we know the level of revenue generated from the sale, we will be in a much clearer position as to the monies available to return to creditors."