The next phase of plans for a TT World Series will see the Manx government seek a commercial partner, to organise and promote it.
The plan is to create an international championship of road races under the TT banner.
The final round would be the TT itself.
Laurence Skelly MHK is the Department of Economic Development's member with responsibility for motorsport:
Clip 1
Ramsey MIU to close temporarily ahead of relocation of services
Number of services to be relocated to Noble's - albeit temporarily - to allow for pest control works
Storm Bram: Trees down amid widespread disruption
Footage shows large waves crashing onto coastal roads
Treasury presents 2025-26 Department Plan to Tynwald
Department says it will continue to push for tighter financial controls across government
Further adjournment for attempted murder accused
19-year-old is also charged with several other offences
Risk of overregulation ahead of Moneyval has led to 'friction'
Chief minister discusses response from business sector ahead of assessment