The Chief Minister this morning made a statement about the collapsed Vision Nine deal in the House of Keys. 

Howard Quayle said the issue was being referred to Tynwald’s economic policy review chairman, Michael Coleman MLC. But he said he couldn’t say more because of legal matters. 

He was speaking after Chris Robertshaw raised the matter at this morning’s sitting. 

Mr Quayle’s statement 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 confirmed in a press statement last evening that Vision Nine has been formally informed of this decision. 

‘Mr Speaker, 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. 

‘The Department of Economic Development also supports a review of the future delivery of the TT Races and Classic TT Races for the benefit of the Isle of Man and this work will begin in the very near future. 

‘I can also confirm that the Minister for Economic Development has referred the matter to the Chair of the Economic Policy Review Committee for further consideration. 

‘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 on the advice of Her Majesty’s Acting Attorney General sub judice as any discussion or debate on the issue at this stage in knowledge of the fact that proceedings are about to be issued creates a real and substantial danger of prejudice to such proceedings and therefore there is nothing more I can say at this time based on the clear advice which I have obtained from Her Majesty’s Acting Attorney General.’