I, for one, wouldn't want to be Dorna chief Carmelo Ezpeleta right now. His blue riband product, MotoGP, is falling down around his ears and it would appear there is nothing he can do to stop it.

Ezepeleta's designs on achieving Bernie Ecclestone-like status in motorsport have long been argued. Ecclestone is a something of a meglomaniac and his business model, for making money at least, is keenly followed by certain parts of motorcycle racing, both on the world stage and in the UK. Own all of it, bank it and fuck the consequences.

The Spaniard isn't cut from that cloth. Although he is in the business of making money, Ezpeleta has a great love for his sport, something that Ecclestone sadly lacks, and looks like he will do whatever it takes to keep MotoGP alive.

But, and it's a big but, at the end of the day, it's not down to him. A venture capital firm called Bridgepoint own three-quarters of MotoGP, having bought a 75 per cent shareholding from fellow quick-buck makers CVC in July 2006.

Venture capitalists expect a fast turnround on their investments in a short space of time. Typically, Bridgepoint would have wanted to have seen an increase in MotoGP's value over five years. Probably to the tune of $200m.

What it has seen is a massive devaluation and the show is now worth about half what they paid for it. This has happened before. Racing's smartest cookie Nicola Foulston sold the Brands Hatch group to ad agency Interpublic for £120m and promptly pissed off to Switzerland. Interpublic then sold it to Jonathan Palmer for £20m a couple of years later.

If Bridgepoint sees its investment reduce any further, then it will put its three-quarter share up for sale to cut its losses. That means MotoGP will fall into the hands of a much smaller company that will pare the business to the bone in order to make it work financially.

All of this will, of course, have a massive effect on the core business of racing. It might be time now for Ezpeleta to think more about the spectacle of MotoGP as entertainment and less like a motorsport event.

In America, NASCAR is second only to the NFL in terms of popularity. If you flick between channels, you can watch stock car racing 24 hours a day there and this is because they have turned it into entertainment, which the networks and major cable companies love.

Should a NASCAR driver get ideas above his station and actually deign to lead the race for more than five minutes, or be in front for more than half a lap, race organisers will engineer something that necessitates a yellow flag, therefore bunching the pack up again, and levelling the whole playing field.

I'm obviously not advocating that, but if Ezpeleta doesn't do something about the, frankly, boring racing in MotoGP, he could find himself out of a job. Holding races in places like Qatar is all well and good, but when the crowd comprises the teams, their mums and some people who tipped up wondering what the bright lights in the night are all about, then you have to wonder.

The Hungary race isn't going to happen. So give it to Portimao. And, Carmelo, stop trying to give your own country more than their fair share of races. We're not stupid you know. And that goes for you too, Mr Flammini.