The five teams who will enter and run cars in the all new F1 Academy female racing series from 2023 to 2025 have been announced.
Launched at the season-ending Abu Dhabi Grand Prix, the F1 Academy will giving aspiring female racers the chance to race in a partially subsided series with Formula 2 and Formula 3 squads set to run the cars.
Bruno Michel is set to become general manager of the championship, which has a planned seven events on its inaugural calendar - with at least one of these on the Formula 1 support package.
The series is not a direct replacement for W Series, which was forced to abandon its 2022 campaign after funds ran dry after its first ever race in Singapore in September.
F1 Academy teams announced
The five squads who will run the cars in the F1 Academy are ART, Campos, Carlin, MP Motorsport and Prema.
All five squads are well-established in the junior categories and compete across both FIA Formula 2 and Formula 3.
In the one-make series, each team will enter three cars, totalling a 15-car championship grid. The teams will run the Tatuus T421 chassis, which will be equipped with 165 bhp Autotecnica engines.
The aim is to have the championship ready for an inaugural 2023 season, with the full calendar and the competing drivers still to be announced.
President and CEO of Formula 1 Stefano Domenicali reiterated the 'important step' the F1 Academy will play in tackling the diversity and representation issues in motorsport.
“It is exciting to be able to announce the five teams that will be racing in the F1 Academy for next year and who will be providing this fantastic opportunity to the young and talented women to begin their journey into competitive motorsport," commented Domenicali.
"We believe it is important that everyone has the chance to follow their ambitions and get the support and guidance needed to progress and excel.
"The F1 Academy is an important part of our plan to increase diversity and representation in motorsport and we are looking forward to the first season in 2023 and stay tuned for more news in this area.”
Video: How F1's prize money is distributed and who actually gets what
How has F1’s distribution of income changed since the new Concorde Agreement came into force in 2021?
RacingNews365 takes you on a journey through F1’s financials, and explains how the sport’s revenues trickle down to its ten teams.