The new Team US F1 is being backed by YouTube co-founder and boss Chad Hurley for its 2010 championship campaign.
"I am thrilled to be a part of America's first Formula 1 team in more than 40 years," Hurley 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 was one of the original founders of the video-sharing website YouTube, and has helped take it from its original concept to the huge global brand it is today. The business was sold to Google for $1.65 billion (£1 billion) in 2006, although Hurley stayed on board to guide it.
US F1 says that as well as his financial input, Hurley will bring his outside experience to the team to help with its corporate strategy and media planning.
US F1 sporting director Peter Windsor (pictured) said, "This is a great day for US F1. Chad's commitment to this team is vital and his visionary expertise and leadership will help steer us into the future as we look to attract best-in-class sponsors, drivers, employees and fans in our quest to compete at the highest level of motorsports."
US F1 is one of three new teams entering F1 next year. Manor and Campos are the two other teams; they have yet to announce their investors.