Formula One to launch new racing series for women

ABU DHABI, United Arab Emirates (AP) — Formula One is launching a new racing series for female drivers that will start next year. The series will be known as the F1 Academy and will be subsidized by F1. It is likely to be a support series for one weekend of the F1 season. F1 said it would contribute funding of 150,000 euros ($156,000) per car and drivers would have to provide a similar sum. There will be 15 cars on the grid for a 21-race season split across seven rounds. The announcement comes less than two months after the all-female W Series cut its season short due to financial problems.