The financial situation facing the W Series continues to spiral with information on the alarming list of creditors having come to light.
The all-female racing category, founded in 2019 and which regularly appeared as a support series on the Formula 1 calendar, was forced to cut the 2022 campaign short due to financial difficulties, meaning Williams junior Jamie Chadwick was crowned champion to maintain her 100 per cent title-winning record.
But, hopes that the series could return for 2023 were followed by confirmation in June that W Series had gone into administration.
Long list of creditors for W Series
As the administrators go about attempting to balance the books, information has emerged on the staggering list of those owed money, figures confirmed by Companies House, with some familiar names in the world of Formula 1 included.
The largest outstanding sum is owed to Formula One Marketing Limited, who are due north of £1.3 million, with F1 World Championship Limited owed £184.5k.
Formula 1 pundits Billy Monger and Lee McKenzie are owed £38k and £16.8k respectively, while the Circuit de Barcelona-Catalunya, host of the Formula 1 Spanish Grand Prix and a venue which appeared on the 2022 W Series calendar, is owed £66k.
Singapore’s Marina Bay Street Circuit, which hosted the most recent W Series event, is due £8k, Circuit Paul Ricard £14.8k and the Hungaroring £7.6k.
Major sums are also owed to the likes of DHL International, Formula 1’s logistics partner, with £512k due their way, while DO & CO International Catering also owed north of half a million. Velocity Experience Limited are owed over £1 million, W Marketing £824.7k and Whisper Films north of £700k.
There is an outstanding £264k HM Revenue and Customs bill and just shy of £200k for R&D Tax UK Limited.
In the absence of the W Series, a fresh all-female junior racing category has been established in the form of F1 Academy.
Marta García is leading the way in the inaugural 2023 Championship, while from next season a huge step has been announced which will see the 10 Formula 1 teams each nominate a driver for the series, who will then race in a challenger kitted out in the livery of that team.