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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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Prospective Onchan MHK appears at Douglas Courthouse
Manxman parts being repaired in Denmark
Will 'shortly return to the UK' for reinstallation
"We're watching you" warning for OCGs trafficking drugs to Island
Constabulary's work won't stop says DI recognised for 'exemplary service'
Airport warns of possible disruption due to low cloud
Current forecasts indicate it will lift around 3pm