Formula 1's commercial boss Sean Bratches wonders how former supremo Bernie Ecclestone managed to run a sport that had no real strategy under his reign.
Liberty Media has tackled F1 head-on since it took over Grand Prix racing at the end of 2016, getting to grips with the business and working hard to improve the sport, both on and off the track.
For Bratches, the years preceding F1's change of the guard were marked by relative inaction and stagnation, much to the American executive's amazement.
"There was no business," Bratches told Germany's Bild.
"No digital structure, no market research, nothing. There was no strategy, only Bernie Ecclestone.
"Actually, you have to have a lot of respect for how he managed to do it at all. But it's also clear that Formula 1 survived in the 21st century but did not grow. Now we are building it up for the long term.
"The best days of Formula 1 are yet to come."
Liberty Media's initiatives have generally been seen as positive for F1's evolution, although for some, change still isn't happening fast enough.
"We're trying to turn Formula 1 from a motor sport into an entertainment brand that puts racing at the centre.
"Let's not have any misconceptions -- we are now a media and entertainment group."
Rumors emerged earlier this year that the entire race weekend format could be revamped, although F1 sporting boss Ross Brawn dismissed a reduction to a two-day programme.
"Let's see," said Bratches "First we crawl, then we walk and then we start to run. Market research is currently underway on the topic. Ross and his team will handle it."
Gallery: The beautiful wives and girlfriends of F1 drivers
Keep up to date with all the F1 news via Facebook and Twitter
