Government declared that it re-introducing plans to search a commercial promoter to take over the Isle of Man TT and Classic TT.
The Department of Economic Development is aiming to hire someone with relevant experience and "commercial acumen" before next year's events. It is committed to growing both in a sustainable manner but to do this it needs to spend - about 20 million a year is produced from the motorcycling festivals.
A tender process, which even incorporated a TT Series has recently been finished but must now be restarted following the decision to scrap the plans for a worldwide event.
According to the department, it must be fair to all potential bidders now the scope has changed.
The Department of Economic Development is aiming to hire someone with relevant experience and "commercial acumen" before next year's events. It is committed to growing both in a sustainable manner but to do this it needs to spend - about 20 million a year is produced from the motorcycling festivals.
A tender process, which even incorporated a TT Series has recently been finished but must now be restarted following the decision to scrap the plans for a worldwide event.
According to the department, it must be fair to all potential bidders now the scope has changed.