If you run a country and want to put it on the global map you don't have so many choices. You can get the Olympics, the World Cup or a Formula One race. And the first two are only every four years - and you have them only once.

When you go back to the above names it was a very much narrower situation - the alternatives were far fewer. Today there is much more competition for the 'hero stakes'! And if you think about all the alternatives you have today to spend your time on, the pool of heroes is much broader. It was very much less back then.

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

Vodafone is building a digital stadium in Istanbul. It is really worth going to see that. The whole experience will change with the possibilities viewers will have.

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.

The world is changing. And a lot of people in Formula One are starting to understand this.

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.