Talks between the Department of Economic Development and the Manx Motor Cycle Club will continue over proposals to change the format of the Manx Grand Prix from 2013.
The two organisations met yesterday and a short joint press release states they will continue to work together in the best interest of the event.
Further meetings are to take place and more news will be issued as progress is made.
Government is proposing to reduce the 2013 Festival to 10 days with racing over the August Bank Holiday weekend.
The emphasis will be on classic bikes and the name will change using the T.T. brand.
FC Isle of Man returning to league action at Barnoldswick Town
New padel courts in Noble's Park opening after two years in development
Hockey: Compact mixed schedule on the cards this weekend
Rugby: Busy triple-header beckons at Ballafletcher