Since the global financial crisis struck back in 2008, MotoGP’s primary focus has been on cutting costs. These efforts have met with varying success – sometimes reducing costs over the long-term, after a short-term increase, sometimes having no discernible impact whatsoever – and as a result, the grids in all three classes are filling up again.

Further changes are afoot – chiefly, the promise by Honda and Yamaha to supply cheaper machinery to private teams, either in the form of production racers, such as Honda’s RC213V clone, or Yamaha’s offer to lease engines to chassis builders – but there is a limit to how much can be achieved by cutting costs. What is really needed is for the series to raise its revenues, something which the series has signally failed to do.

In truth, the series has never really recovered from the loss of tobacco sponsorship, something for which it should have been prepared, given that it had had many years’ warning of the ruling finally being applied.

The underlying problem was that the raising of sponsorship had been outsourced and the marketing of the series had been outsourced to a large degree to the tobacco companies, and once they left – with the honorable, if confusing, exception of Philip Morris – those skills disappeared with them. There was nobody left to try to increase the amount of money coming into the sport.