If you pay 50 million for something, you probably pay another 50 to 100 million to activate it. And the more you spend, the better you do. There is no point in just buying rights.

Think through whom you are trying to reach. Tailor what you do and how you do it to appeal to those communities.

That is again a romantic notion: the hero. I think people enjoy a much more levelled playing field where you have the ability for many people to become heroes.

In fact, if you were interested in a global platform there are only three sporting events: probably the most powerful - or equally powerful [to F1] - are the World Cup and the Olympics, and then Formula One. And there it gets interesting.

Bernie [Ecclestone] has not been shy to say one or two controversial things. The last person in the UK who described his product as being crap in public was one Gerald Ratner - and he was gone immediately. But not Bernie! What it tells you is that the demand for live sporting rights, the demand for global or regional events, is so powerful that you brush aside some things because there aren't so many of these events.

F1 is exciting, its values are attractive and it could be an even better family sport.

I recently interviewed Bernie Ecclestone in London. He had a go at women, said [Vladimir] Putin should be running Europe and so on. He enjoys it - he's been doing it for such a long time. He has an entrenched position. The truth be known, he is unique, right?