Developing the demolished Summerland site for tourism or leisure use is the priority, the Tourism Minister has vowed.
In Tynwald, Adrian Earnshaw revealed he hoped to progress discussions with interested parties in the near future.
But he admitted there were no firm plans yet for the vacant site on Douglas promenade:
Remainder of TT 2026 cancelled
Race organisers confirm no more racing at this year's event
Work to prepare TT course road surface cost almost £600,000
DoI reveals figure in response to Freedom of Information request
TT 2026: Further two-hour delay confirmed
Conditions around the course 'need to improve sufficiently'
Mountain Road closed 'with immediate effect'
'Due to current significant pressures on emergency services'
TT 2026: Organisers provide updates on rider conditions
Three riders 'conscious and stable' following Friday incidents