The all-woman W Collection cancelled its remaining three races in the USA and Mexico for monetary causes on Monday and declared Britain’s Jamie Chadwick champion for the third season in a row.

The sequence had been as a result of help Components One at subsequent week’s U.S. Grand Prix in Austin, Texas, earlier than ending its season with two races at Mexico Metropolis’s Autodromo Hermanos Rodriguez on the finish of the month.

“As a consequence of latest unexpected circumstances outdoors of W Collection’ management, we had not been in receipt of contracted funds as a result of us,” W Collection founder and chief govt Catherine Bond Muir stated.

“Subsequently, we have now been compelled to make the unlucky determination to not full our scheduled calendar this season.”

Bond Muir stated she remained optimistic concerning the long-term way forward for the sequence and needed to stay on the F1 help programme.

“We have simply needed to name it as a result of clearly there are deadlines on funds and issues that should be completed… we simply needed to make a realistic name immediately,” she advised reporters.

“Going ahead, the large message is that I’m extraordinarily assured that W Collection can be right here subsequent yr.”

Chadwick was 50 factors away from Dutch rival Beitske Visser on the high of the standings after seven races.

W Collection, which is free to enter, had web liabilities of £7.5 million ($8.27m) as of the top of final yr, in accordance with statements filed with Corporations Home.

The sequence began in 2019 with the goal of getting a lady racer to F1.