That might be the old model: to get a fixed fee. You have to start to think about other models and how they can generate interest - what it can do for a brand in the future - and about the fact that revenue can also be generated in many other ways... Just look at the one and a half million people at the free Rolling Stones concert in Cuba. And Cuba is not Central Park! So just use your imagination as to what kind of revenue can be made.

And there are some - Bernie [Ecclestone] and others - who are embracing new technologies. When Sky UK started to broadcast there was an argument that audience would come down because it is pay TV. But the actual quality of the production and the use of technology and the engagement of the viewer is much better than it ever was. The product is simply better.

When you have two people challenge for the same job and you keep them both and call them co-CEOs, or the whole fiasco of a 'merger of equals'... there is no such a thing. So if there should be dreams of dual leadership, the chances of success are limited. But Bernie [Ecclestone] is still at the top of his game I have noticed.

The web attacks traditional ways of doing things and elites, and this is very uncomfortable for traditional businesses to deal with.

Technology will have moved on to an unimaginable level in ten years.

It doesn't make much sense and it's nil premium. They're going to have co-CEOs...which is a very uncomfortable structure.

Despite streaming, despite the rise of tablets and smartphones - all the implications which in theory would make linear TV less important - live sporting events are extremely powerful. But it's not the event alone - it's also what's surrounding it.