Formula 1 supremo Bernie Ecclestone has rubbished suggestions that the sport needs to attract a younger audience or promote itself on social media.
Despite retaining a TV audience of around 350m, F1 is reported to have lost around 500m viewers in recent years due in part to an ageing fanbase. However, the 84-year-old has dismissed any notions that the brand needs to be marketed more towards young fans.
He told Campaign Asia-Pacific: "You're telling me I need to find a channel to get this 15-year-old to watch Formula 1 because somebody wants to put out a new brand in front of them? They are not going to be interested in the slightest bit.
"Young kids will see the Rolex brand, but are they going to go and buy one? They can't afford it. Or our other sponsor, UBS. These kids don't care about banking. They haven't got enough money to put in the bloody banks anyway. That's what I think.
"I don't know why people want to get to the so-called young generation. Why do they want to do that? Is it to sell them something? Most of these kids haven't got any money."
Ecclestone has recently criticised Caterham for using "begging bowls" in an attempt to stay on the F1 grid.
