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.

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.

I believe that Virtual Reality will hit it big time. I know that some of my colleagues disagree, but I believe in it.

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.

If you look at the sponsorship yields, Formula One - because it happens every year - generates more sponsorship money for a four-year cycle than anybody else. So it is very powerful.

I was carrying Jackie Stewart's bag! Formula One was pretty much the same back then.

Monaco was my first race of the season and I spoke with a number of people and all seemed to be very optimistic.