The RailHawks announced today that, as expected, Lulu.com's founder Bob Young is joining the ownership group.
"I am thrilled to be a part of this team," said Bob Young. "Both the Triangle area of North Carolina and the sport of soccer are growing rapidly, the combination of those two trends makes the future of the RailHawks very exciting."
Mr. Young is the founder and CEO of Lulu.com, a self-publishing web-based company headquartered in Morrisville, NC. Prior to founding Lulu.com, Young co-founded Red Hat, Inc. in 1993, where he served on the board of directors with Selby Wellman who, with son Brian, holds the majority stake in Triangle Professional Sports and the RailHawks.
Still, it's a bit of an odd day for the announcement: The News & Observer reported this morning that Lulu is laying off approximately 20 percent of its workforce. Evidently, reporter Alan M. Wolf asked Young the obvious question:
"Why wouldn't I get behind the fastest-growing sport in the fastest-growing market run by a guy I have the utmost respect for?" Young said.
The stake is a financial investment that won't take his time away from Lulu, Young said.
The team's press release suggests that Young's value to the group will include his publishing resources:
"We are thrilled to have Bob Young as one of our partners," said RailHawks owner Brian Wellman. "With him, Lulu.com will become one of our strategic partners as it pertains to all of our multimedia marketing."