W Series owed UK£15.8m at time of administration

F1 owed over UK£1.5m on list of 150 creditors.
  • F1 owed in the region of UK£1.5m
  • W Series paid significant funds to two companies owned by David Coulthard
  • Whisper and Velocity Experience awaiting almost UK£1.8m in funds

Pioneering all-female W Series owed UK£15.8 million (US$20 million) at the time of its administration.

A Companies House update has revealed the true extent of the series’ financial woes, with a list of 150 creditors published.

Formula One is owed the largest amount, with UK£1.55 million (US$1.97 million) currently outstanding between F1 World Championship, Formula One Marketing, Formula One Management and the Miami Grand Prix.

In June, Evelyn Partners was appointed as administrator after efforts to secure funding failed. In its last public update before administration, W Series had net liabilities of more than UK£7.5 million (US$8.1 million) to December 31st 2021.

At that time, it was reported that W Series’ biggest creditors were production company Whisper and hospitality partner Velocity Experience, both co-founded by David Coulthard.

This latest update has revealed Whisper is owed UK£711,743 (US$905,059) and Velocity Experience is owed UK£1.08 million (US$1.37 million).

Other significant creditors include:

  • W Marketing – UK£824,720 (US$1.05 million)
  • DHL International – UK£512,000 (US$651,064)
  • DO & CO International Catering – UK£503,066 (US$639,704)
  • HM Revenue & Customs – UK£264,925 (US$336,881)

The figures also reveal that W Series is in debt to all circuits that hosted races during the curtailed 2022 season, most significantly the UK£118,262 (US$150,383) owed to Miami promoters South Florida Motorsports.

Presenter Lee McKenzie and co-commentator Billy Monger are among the individuals awaiting payment.

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