Formula E acquires intellectual property (IP) of the W Series
Formula E, the championship for all-electric single-seater motorsports cars, has paid for the intellectual property (IP) rights to the W Series, an all-women series that was placed under receivership last year.
Formula E’s latest insolvency report, published last week, reveals that the company Formula E Operations has acquired the IP rights.
According to the documents, the sale was completed at the end of March and cost the Formula E car £110,000 ($142,000) plus VAT.
Speaking to the publication Formula Scout, Formula E CEO Jeff Dodds said: “I just thought it was a good opportunity to have this capital because we are focused on getting more women into motorsport.”
“So we just want to give different people the opportunity to try out cars and realise their potential in motorsport. And I thought the W Series was a really brave attempt to do that for women in racing.”
Plans for the W Series were first announced in 2018. The free-to-enter championship is designed to provide an opportunity for female racing drivers and its first season will take place in 2019.
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However, due to a variety of financial problems resulting from the outbreak of the coronavirus pandemic in early 2020, the third season of the series could not be completed in 2022 before the planned 2023 campaign was cancelled.
Then, in June 2023, news came that the series organizers had appointed administrators.
It has been reported that the W series still has outstanding debtors.
Formula E now holds a majority stake in the major US media group Liberty Global following a deal announced last month.
Liberty Global has acquired a 65% majority stake in media and entertainment giant Warner Bros. Discovery (WBD).
The deal, which still needs to go through the usual regulatory approvals, will leave the remaining 35% of the series – now in its 10th season – under the control of various minority shareholders, with approval expected by the end of 2024.
In June, Formula E also unveiled a record-breaking racing calendar for its 11th season, including several new venues.
For the first time, the series will have a season with 17 races at eleven venues.
Of particular note is that Monaco will make its debut on the Formula E calendar with separate back-to-back races across the entire Circuit de Monaco.
The 2024-25 season will also see a return to Miami (USA) for the first time since the first season to a completely new location – the Homestead-Miami Speedway.
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