W Series CEO Muir 'confident' championship can continue despite financial troubles
- Published
The W Series debuted in 2019 with the aim of getting a woman racer to Formula One
Chief executive officer Catherine Bond Muir says she is "pretty confident" the W Series can overcome its ongoing financial difficulties - but uncertainty remains over its ability to hold the next race in Austin, Texas.
The penultimate race of the championship is due to take place in the United States on 21-22 October.
"We hope it is going to go ahead," Bond Muir told BBC Radio 4.
"But there are lots of factors that are adversely affecting us."
A contract with an investor recently fell through, leaving the Series with "a cash shortfall" and putting the conclusion of the third season under threat.
The weakening of the pound against the dollar has increased the difficulty of staging the next race.
"Getting to Austin has become increasingly difficult because we budgeted US Dollars a year ago and because of the devaluation of the pound we have hit increasing problems," added Bond Muir.
The CEO said that there are "certain deadlines" that will need to be met in the coming days but, since announcing its financial issues, there has been "an extraordinary inpouring of interest" to invest in the W Series.
"As I sit here now I am pretty confident we are going to find our way through that [financial situation]," she said.
The 2022 W Series is scheduled to conclude in Mexico City on 28-30 October.
The eight-round, 10-race, all-female contest shares a global stage with Formula 1, with races taking place on the same circuits across the same weekends.
It is a free-to-enter championship which seeks to provide equal opportunities for women and eliminate the financial barriers historically present in motorsport.
"We are only in our third season. We're involved in a very expensive sport and it would be very difficult for anyone to do what we're doing," said Bond Muir.
"We're also an all-female motor racing series and we all know the problems that female sport has when you compare it to its male counterparts.
"Women's sport has, in a very high profile way, lagged behind. My belief is that in future years that differential will narrow. It's tough for everyone at the moment but lots of people are supporting women's sport generally.
"Huge numbers of people support W Series. We are gaining traction. As our audience grow, hopefully the sponsorship money will increase too.
"Where I sit now at the moment, given this inbound interest, we are running a process and I remain very optimistic that we are going to be around next year and that we can continue supporting women in motorsport."
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