21 Aug 2009

YouTube co-founder gets involved in F1

8:45 am on 21 August 2009

YouTube co-founder Chad Hurley is putting some of his fortune into Formula One as primary investor in the new U.S. F1 team due to enter the sport next season.

The multi-millionaire says getting in on the ground floor of a project of this size and scope is a tremendous opportunity, and I look forward to helping shape the US F1 vision and corporate strategy for years to come.

Hurley, CEO of the video-sharing website that was sold to Google in 2006 for almost 2 billion dollars in 2006, says he was attracted by the mix of technology, design and sport that Formula One represented.

U.S. F1 are one of three new outfits confirmed for next year's championship, with the starting grid due to be expanded to 13 teams from the current 10.

The team are due to use a Cosworth engine but intend to showcase American talent and technology from their base in Charlotte, North Carolina.