SBD/Issue 232/Franchises

YouTube co-Founder Chad Hurley To Be US F1's Primary Investor

Hurley Will Bring Outside
Experience To US F1
US F1 has "pulled off a major coup by securing the services" of YouTube co-Founder & CEO Chad Hurley for the team's '10 F1 debut, according to Noble & Rencken of AUTOSPORT.com. Hurley will be the team's "primary investor," and beyond his financial input, USF1 said that Hurley will "bring his outside experience to the team to help with its corporate strategy and media planning going forward." Hurley: "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" (AUTOSPORT.com, 8/19). US F1, formed by former Haas CNC Racing Technical Dir Ken Anderson and former Speed pit reporter Peter Windsor, will be the only F1 team based outside Europe and the "first American team in 40 years" (PAIDCONTENT.co.uk, 8/20).

GETTING IN THE RACE: Hurley said the opportunity is "more than a business opportunity for me." Hurley: "I love all sports. I love competition, and it's just an honour to be involved in US F1 and to be racing next year in the world championship." Hurley said he sees "tremendous potential for all sports to integrate more media, more social connections, connect with the fans and build a fan base." Hurley: "And that's exactly what I hope to bring to US F1. ... Obviously video is something I am deeply involved with today, and that is going to be a big part of what we do at US F1." Hurley added what attracted him to the team is that it is "a start-up." Hurley: "And it's a very similar situation to one that would be in Silicon Valley -- it's a small team of talented, smart individuals trying to break the mould, trying to accomplish something that others think is impossible." Hurley said he is "definitely going to be involved in helping the team with sponsors, helping the team with business relationships, and helping the team with integrating technology" (AUTOSPORT.com, 8/19).

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