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.

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.

In the old days, you could segment happily. You could put out one message to one segment of the audience, and one to another. That has now gone. You say something to one community and instantly, literally at a click, it's available to everybody. What it means is that if you're trying to craft a message, it's very difficult.

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.

We do things much the same way as we did 50, 60 or even 70 years ago. The answers may not be wrong, but we haven't experimented to see whether they are or not.

[Formula One] is entertainment and it competes with other entertainments - and not with other racing formats. It competes with people's time on a weekend. So you have to deliver.

If you are a driver of a team and have a certain set of sponsors, who is the target market for those sponsors? But, of course, it is also a question of nationality.