There has been strong interest from organisations seeking to become the promoter for the Isle of Man TT and Classic TT.

Expressions of Interest were issued from 6th November and to date nearly 30 organisations have requested a Bid Guide and Pre-Qualification Questionnaire.

Minister for Economic Development Laurence Skelly MHK commented:

‘Independent surveys conducted into this year’s TT and Festival of Motorcycling indicate that since 2010 our relatively small increases in marketing spend have enabled the total number of visitors for the two Festivals to grow to 57,000, up by 17,000 or 42%. This represents an increase in exchequer benefit of almost ?2million, or 62%. For each ?1 extra we have spent on marketing, we have generated over ?12 for the taxpayer. It also shows change can deliver real growth.

‘Both our own experience and the TT Series procurement process have provided us with hard evidence of the opportunities for further growth that exist with the Isle of Man TT and Classic TT, the latter event part of the Festival of Motorcycling. The Department believes that a private promoter partner can bring relevant commercial expertise, new ideas and much needed investment so that these events can continue to grow.

‘Therefore I am extremely encouraged by the excellent interest we have received to date from a range of organisations, including some with a local interest and some which bid for the original tender.’

The closing date for interested parties to register their interest is Wednesday November 25th 2015. The intention is to appoint the promoter before TT 2016.