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:
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Island's first rapid EV charger being installed
Once operational, the site will retain its existing charger, increasing overall capacity to four charging bays
Mooir Vannin could be first of many
Dr Alex Allinson, who is retiring as Ramsey MHK at this year's general election, gave evidence to the final hearing by the independent panel.
'Significant investment or redevelopment' needed at Ramsey District Cottage Hospital
Manx Care is 'planning a sustainable long-term solution'
Braddan Commissioners open expressions of interest for TT camping at Roundhouse
Local authority wants to provide family friendly accommodation