[ad_1]
All-female championship W Sequence has gone into administration eight months after bringing its third season to an early finish.
Kevin Ley and Henry Shinners of Evelyn Companions LLP had been appointed joint directors of the collection yesterday.
W Sequence was shaped in 2019 as a junior championship for ladies racers. Jamie Chadwick gained the inaugural season and went on to repeat her successes in 2021 and the curtailed 2022 season. The 2020 championship was not held as a result of Covid-19 pandemic.
The collection cancelled its closing three races final 12 months, which had been as a consequence of happen at Circuit of the Americas within the USA and the Autodromo Hermanos Rodriguez in Mexico, as a consequence of monetary hassle.
On the time the collection’ CEO Catherine Bond Muir was hopeful of discovering backing which might permit the collection to proceed. Nevertheless no plans for a fourth championship had been introduced.
“The information will likely be upsetting for the corporate’s staff and drivers along with the worldwide supporters of the championship,” stated Ley.
“The corporate had been unable to decide to the 2023 race season as a consequence of its liquidity place. The administrators had been in discussions with numerous events to offer extra funding along with a possible sale of the enterprise. Sadly, these discussions didn’t progress.”
Advert | Become a RaceFans supporter and
W Sequence initially appeared alongside DTM occasions in 2019. It held a complete of twenty-two races gained by Chadwick, Alice Powell, Beitske Visser, Emma Kimiläinen and Marta Garcia.
The seven races which constituted its closing season had been all held alongside rounds of the F1 world championship. W Sequence’ closing race, held in Singapore, was gained by Visser.
The prospects of the collection returning seem extraordinarily slim. The directors confirmed just one employees member remained, which is believed to be Bond Muir.
Evelyn will “discover all obtainable choices to permit the W Sequence to restart sooner or later,” stated Shinners. “We’re looking for expressions of curiosity within the enterprise and belongings of the corporate. We might ask that any curiosity is registered with us as rapidly as doable.
“Workers had been made redundant or had left the enterprise earlier than our appointment and it has sadly been essential to make the remaining employees member redundant. The joint directors will likely be trying to assist any employees impacted by the administration, given the monetary place of the corporate, with making and progressing any claims with the Redundancy Funds Workplace.”
F1 Academy, a separate new junior championship for feminine racers, was introduced by System 1 final 12 months and has held three of its seven triple-header race weekends deliberate for this season. It is because of seem as a assist occasion at the US Grand Prix on the Circuit of the Americas in October and all of its races will happen at grand prix weekends subsequent 12 months.
Advert | Become a RaceFans supporter and
W Sequence
[ad_2]
Source link
