W Series which will start in 2019 is backed by a number of major F1 names, including 13-time Grand Prix winner, David Coulthard and Red Bull design chief, Adrian Newey, who believes that men and women could compete on equal terms in motorsport.
A prize fund of $1.5 million will be given to winners and free entry for 18-20 competitors, who will be selected purely on merit following tests and appraisals. The overall winner will collect $500,000, with prize money down to 18th place.
Organisers aim to stage six 30-minutes races at top circuits in Europe with future plans to expand the series to America, Asia and Australia.
