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Formula 1 launches new all-female racing series

Formula 1 on Friday launched an all-female racing series that is set to hit the track next year and prepare young girls to race in the sport. The new category, which will be called F1 Academy, will feature five teams run by outfits currently competing in F1-feeder series Formula 1 and Formula 3. They will each run three cars, creating a 15-strong grid, Formula One said in a statement. Drivers will be required to bring 150,000 ($155,520) in funding, with F1 matching that amount and teams raising the rest of the 2.25-Million total budget. Next year's inaugural season will comprise seven events with three races each, with one round likely to feature on the Formula 1 support bill, and 15 days...
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