Isle of Man TT bosses have called off the tender process set in place to find an independent promoter for its blue riband event and the ClassicTT which leaves Vision Nine, who had been provisionally awarded the contract, out in the cold.

A statement issues by the Isle of Man government reads:

Following discussions with other Isle of Man Government Departments, the Department of Economic Development has decided to discontinue the current independent promoter tender process for the TT Races and Classic TT Races.

The Department of Economic Development can confirm that Vision Nine has been formally informed.

As previously stated, The Department of Economic Development will continue to work with the other Government Departments and independent contractors to deliver the 2017 Isle of Man TT Races.

Laurence Skelly, MHK, the Minister for the Department of Economic Development, supports a review of the future delivery of the TT Races and Classic TT Races for the benefit of the Isle of Man.

The Department has been advised by lawyers acting on behalf of Vision Nine of their intention to issue legal proceedings and in the circumstances the matter is now sub judice.