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Hopes for a major leisure complex, to be sited on the former Summerland site in Douglas, have been dashed.
Talks between the Manx government and the Sefton Group have broken down, without agreement on the next crucial stage of the proposals.
John Moss reported live on the issue on Mandate at One:
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Concern for crops and animals after delays to feed and fertiliser deliveries
Further changes to sailing schedule due to tidal restrictions
Manxman crossings affected over next three days
Census 'still one of the most valuable statistical tools' for government
Cabinet Office minister says technical can't count the population as well as the survey
'Immigration is needed' for economic growth on Island
MLC says a shortage of workers is creating challenges for Manx businesses
Ramsey's first candidate declares for general election
Commissioner Juan McGuinness intends to stand in September