The USF1 Formula One team has been fined and barred from ever competing in F1 for not taking part in the 2010 world championship. The World Motor Sport Council said Thursday the American team had "infringed the FIA international sporting code [and] the sporting regulations of the 2010 FIA Formula One world championship." The Council said it was fining the team $382,000 plus legal costs and banned the team from taking part in "any competition." USF1, whose primary investor is YouTube co-founder Chad Hurley, was granted an entry for the 2010 season but withdrew in February because it was unable to develop its cars in time. http://sports.espn.go.com/rpm/racing/f1/news/story?id=5324040
