Chad Hurley, one of the co-founders of YouTube, is bringing his financial backing and video media experience to the new USF1 team which will enter the Formula One series next season.

Hurley told Autosport.com that video media would be “a big part” of what he does with the team.

“I see tremendous potential for all sports to integrate more media, more social connections, connect with the fans and build a fan base,” he said, as reported by Bloomberg.

“Hopefully we can create compelling content that individuals around the world have an opportunity to view and share, and really feel like they are part of the team.”

Hurley will be a primary investor in the new team, and told Autosport.com of his excitement at the prospect.

“I am thrilled to be a part of America’s first Formula One team in more than 40 years,” he said.

“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 made his fortune when YouTube was sold to Google in 2006 for $1.65 billion, and is still the CEO of the company.