F1 must cut costs to bring back the buzz - Brown

Mercedes Formula One driver Nico Rosberg (front) of Germany drives in front of McLaren Formula One driver Jenson Button of Britain during the Chinese F1 Grand Prix at the Shanghai International Circuit, April 12, 2015. REUTERS/Aly Song

LONDON (Reuters) - Formula One has lost some of its buzz, big team budgets are running out of control, sanctioning fees and ticket prices are too high and historic European races must stay on the calendar.

Zak Brown, the American boss of the world's largest motorsport marketing agency, is running through a check list of where grand prix racing is going wrong and what needs to be done to put it right.