The 2024 F1 season approaches with a sombre note as the W Series program officially comes to an end after less than five years of existence. Following the collapse of discussions with potential purchasers, the W Series, an all-female Formula Regional championship designed to promote female drivers in motorsports, faces a difficult period and has placed its assets up for auction on BidSpotter until January 31, 2024.
NEWS | The assets of W Series are currently being auctioned off, after the championship went into administration in June last year.
Several items are being sold, including cars and race suits. The auction takes place online and will conclude on January 31.
📸 W Series#WSeries pic.twitter.com/9Y3Kr8nbXi
— Feeder Series (@feeder_series) January 24, 2024
The auction, managed by Wyles Hardy & Co., includes a diverse range of items, from car chassis and engines to hand tools, race suits, and even trophies from the short-lived series. Notably, all the assets belonged to the W Series itself, making it a unique situation where no individual or external group of investors owned the items. This comprehensive auction encompasses various racing elements, adding to the intrigue of potential bidders.
W Series Tatuus F3 T-318 cars up for sale to clear off huge debt
One standout item among the offerings is a set of 20 Tatuus F3 T-318 cars, complete with engines and spare parts. These cars, which made their debut in 2018, were utilized in both Formula 3 and the W Series. The Formula 3 car’s starting bid is set at $38000.
The W Series assets auction is live, and if you've ever wanted an official racing series championship trophy in your home, the bidding for @JamieChadwick's 2019 and 2021 trophy starts at £100.
Other items include:
– Race trophies starting at £20
– Race suits starting at £50
-… pic.twitter.com/ER7eFDZqol— Jeppe H. Olesen (@jeppe_olesen) January 18, 2024
The final prices for the auctioned items will only be determined after the bidding concludes. The sale of the assets signifies a significant downturn for the once-promising W Series, leaving many disappointed in the outcome.
Among the creditors, freight logistics provider DHL, owed £518,783, is expected to receive payment because of a lien over the property. Following are the tax authorities and employees, with their payment prospects uncertain. Unsecured creditors, totaling £15.4 million in claims from 63 parties, face an uncertain future for any payment. The administrators also noted a debt of £15.8 million owed by W Series to a Californian entity, The Bunker LA2, a private car club. Limited funds in administration hindered progress in recovering this debt.
The demise of the series serves as a cautionary tale for aspiring female drivers, emphasizing the challenges and uncertainties that motorsports ventures may face. As the W Series concludes its journey, aspiring female drivers may now shift their focus to opportunities within F1 academies, hoping to learn from the setbacks of the W Series and avoid similar pitfalls in the pursuit of their racing dreams.
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