YouTube and Best Buy to sponsor USF1?

Posted on | Author Keith Collantine

Will we see these logos on the side of USF1's car next year?
Will we see these logos on the side of USF1's car next year?

YouTube co-founder Chad Hurley is one of the investors behind America’s new F1 team for 2010, USF1.

Hurley co-founded YouTube with Steve Chen and Jawed Karim in 2005 and the trio made $1.65bn when they sold the site to Google in November 2006.

Another American company, Best Buy, is looking to get involved in the project. According to TechCrunch their chief marketing officer Barry Judge recently met Hurley and representatives from US F1.

Best Buy is a major American electrical goods retailer, but its huge electronics warehouses are little seen outside America. It is planning an expansion of its business into the UK and Europe, and bought a half-share in Carphone Warehouse in May for ??1.1bn.

Sponsoring a Formula 1 team would be an ideal way for Best Buy to promote their brand to European audiences.

The potential YouTube tie-up is made all the more interesting because of FOM’s determination to keep F1 content off the world’s most popular video sharing site. This futile, brand-damaging endeavour sees occasional clutches of Formula 1 videos uploaded by fans (including those filmed by fans at Grands Prix) disappear from the site in the name of copyright protection.

F1 teams including Ferrari, McLaren and BMW are already using YouTube.

As for the sponsorship plans of the other two new teams arriving in F1 next year, Manor is tipped to grab the Virgin deal from Brawn GP. Little is known about Campos Meta 1’s plans, but a likely target could be Spanish oil company Repsol. It has a long history of F1 and motor racing sponsorship and has been backing Jaime Alguersuari in World Series by Renault.