Formula One does very well. It is a very interesting asset. Could it be run in a different way? Sure it could be. Could it be improved? I'm sure it could. But all I can say is, it seems to do pretty well.

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.

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.

Why not look at Indonesia? It will be the third biggest country in the world in population in 25 years' time - after India and China.

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

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

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.