USF1 receives backing from YouTube

The USF1 team has completed a deal with video sharing website YouTube ahead of its first season on the Formula One grid next year. The announcement, long since rumoured, confirmed that the popular name will became the principal shareholder of the Charlotte-based outfit.

YouTube's get-together with the American squad, formed by Ken Anderson and Peter Windsor, will see the name contribute greatly to the team as it tackles its first season in the sport. "It was a mix of technology, design and sport and for me personally it was a perfect blend of my personal interests," YouTube co-founded Chad Hurley explained to Autosport.

"That's what initially raised my interest in this opportunity with Ken and Peter and US F1. Really, beyond that, coming from my perspective as an entrepreneur, I thought it was a great business opportunity and a good investment." Pennsylvania-born Hurley continued to describe his passion for the sport, including his first F1 visit to the British Grand Prix at Silverstone this season. "It was quite a good experience," he recalled.

"I have obviously been able to watch a lot of the races on TV but seeing it in person…I guess it's like watching any sport in person; in the States here, watching football and then having a chance to go to the stadium and being able to capture that atmosphere in person is wonderful, so from that aspect it's great."

As well as meetings with the USF1 team, Hurley has also talked with F1 commercial rights holder Bernie Ecclestone in what he described as a 'productive conversation'. "I see tremendous potential for all sports to integrate more media, more social connections, connect with the fans and build a fan base and that's exactly what I hope to bring to USF1 - bringing my experience and perhaps my opinions of how we could go about that; obviously video is something I am deeply involved with today and that is going to be a big part of what we do at USF1."

When did the possibility of linking up with one of F1's newest teams first dawn on Hurley and YouTube? "We had an opportunity to meet during a presentation, when they were initially trying to gain support for their model and for the team," he explained. "They came to Silicon Valley. I happened to hear about it and went to check it out; from there, I didn't have a real idea that I was going to move ahead with the investment but, over time, learning more about the opportunity and learning more about the team and the approach that they were taking, that's when it all sort of came together."

Source: GP Update