Jamie Chadwick appears to be like set to wrap up a 3rd straight W Sequence title in Singapore this weekend however Telegraph Sport understands there are critical doubts over the all-female collection’ capability to finish Season 3 as a consequence of funding points which have left it owing “vital sums” to collectors.
Whisper is one in all W Sequence’ largest collectors and the corporate, based by David Coulthard and Jake Humphrey, normally sends a crew of 15 to twenty folks to races. Nevertheless it won’t be sending anybody out to Asia this weekend as W Sequence tries desperately to lift the funds vital to remain afloat.
Velocity Expertise, which runs hospitality for W Sequence, can be understood to be owed a big sum, whereas Telegraph Sport has spoken to a number of impartial contractors who haven’t been paid invoices value hundreds of kilos, a few of which date again months.
Arrange in late 2018 by Catherine Bond Muir, a former lawyer and company finance banker, W Sequence is now into its third season. And whereas it has been praised for its efforts to advertise feminine drivers, it has struggled for funding all through that point.
Bond Muir admitted on the finish of final 12 months that it had been a battle to succeed in the top of Season 2.
W Sequence’ most up-to-date accounts filed with Firms Home on Sep 5 confirmed it had web liabilities of over £7.5million to Dec 31, 2021, which was deemed to be “according to expectations given the enterprise is within the start-up part”.
Talking on Wednesday night time Bond Muir stated the present international monetary disaster, and depreciating pound, had solely made her job tougher. However she expressed confidence the collection would survive.
“We’re having numerous conversations for the time being and I’m very optimistic. We’ve needed to struggle from day one. It has all the time been a battle however we’re fighters.”