The W Series has announced that it will scrap the final three races at the Circuit of the Americas and the double header in Mexico to focus on a long-term fundraising process.

The decision aims to benefit the 2023 season and enable the championship to improve its financial health and longevity.

Additionally, the premature end to the season means Jamie Chadwick will retain the title as she sits 50 points clear in the stadnings.

Commenting on the cancellation of the 2022 season, W Series CEO, Catherine Bond Muir, said: “It’s with both great sadness and frustration that we announce that our much-anticipated final three races of the 2022 season in Austin and Mexico City will not go ahead.”

“As a start-up in only our third season of racing, we are always working hard to ensure regularity of funding as we continue to grow our business, but due to recent unforeseen circumstances outside of W Series’ control, we had not been in receipt of contracted funds due to us.

“Therefore, we have been forced to make the unfortunate decision not to complete our scheduled calendar this season.

“We would like to thank both Circuit of The Americas and Autódromo Hermanos Rodríguez’s Grupo CIE for their support as promoters of our events in Austin and Mexico City respectively and apologise to both them and our fans that we will not be able to go racing there this year,” she said.

On the fundraising to keep the season running, Muir, said: “We have worked hard to raise the required funding to enable us to finish the season.”

“Unfortunately, it was not possible to do this in the short time frame required following the failure of contracted funds to arrive and the global economic downturn. However, while we are all incredibly disappointed that this decision has had to be made in the short term, we remain positive about the future of W Series in the long term.

“It is well-documented that women’s sports receive far less funding than its male counterparts, and W Series is no exception. We are incredibly thankful for the help and support we have received in recent weeks following the news of the financial difficulties we’ve been facing, which has accelerated our fundraising process and given us great optimism as we look to 2023 and beyond,” she said.

The organisation isn’t in a position to make a formal announcement about the 2023 season yet, however, many positive conversations have occurred to ensure the W Series can continue to grow and succeed.

The announcement comes after Sky Sport landed the broadcast rights to W Series.