All around the world, hundreds of millions of people were watching Lewis Hamilton clinch the Formula One world championship in an incredibly thrilling finish to the season but Paul Walsh had eyes for just one thing — Hamilton’s visor.

The chief executive of global drinks giant Diageo had good reason to be distracted. Plastered across the front of Hamilton’s helmet — what Walsh calls “some pretty expensive real estate” — was the Johnnie Walker logo.

The deal to sponsor the McLaren-Mercedes team, which started in 2005, reputedly costs at least £15m a year, but Walsh clearly thinks it is worth it.

“It is a lot of money but you have 400m people watching a two-hour Grand Prix and all the other races around the world, it’s a great opportunity to promote the brand to the right demographic,” he said. “And, of course, it’s now part of the championship-winning team, and that’s worth a lot in itself.”

As well as motorsport, Diageo backs rugby through the Guinness Premiership and golf through the Johnnie Walker Championship tournament at Gleneagles.

Marketing its brands effectively could be crucial to maintaining Diageo’s success during what Walsh calls a “difficult” year ahead.

If his words sound like an understatement then they are not. He fully understands why 2009 will be “difficult” but is confident that maximising all its skills, including marketing, will ensure the maker of Guinness, Smirnoff and Baileys remains strong.

Sipping a half-pint of Guinness during a visit to Diageo’s Edinburgh offices, Walsh said: “There will be further \ opportunities, because others, such as the banks, will probably leave that space.

“All I am saying is I expect there will be some important opportunities, but we are also looking at other ways of promoting our brands.

“Digital, for example, is great value because you get to a lot of people and it’s cheap.”

Diageo’s global reach is its strength in trying times. Africa, Latin America and China still remain strong, while the US, which accounts one-third of all sales, is still enjoying growth at the premium end. The UK has seen an industry-wide decline but Walsh says Diageo comes out “neutral” in terms of sales.

“We are not reacting to the current situation by bringing in things like a hiring freeze because, for example, if we need people to make sure we can run our new Scottish distilleries, we have to do that, but we are looking closely at costs,” said Walsh.

Times Recommends

• Lies and cover-up at MG Rover exposed by report
• High oil prices push manufacturing costs up
• Primark founder steps down as chief executive