A shortlist of potential partners is being evaluated and Economic Development Minister Laurence Skelly says he hopes to be in a position to announce the winning contract at the April sitting of Tynwald.

The contract, which is for 10 years with the option to extend it for a further five years, will begin this year with TT2017 being the first TT that the promoter will be responsible for.

Mr Skelly said the tender process had been widely advertised and several local companies had expressed an interest to bidding.

A new procurement process to find a commercial partner to help grow the TT and Classic TT began in November after it was announced plans to launch a TT world series had been shelved.

Mr Skelly said at the time his department believed the international series concept had merit despite being relatively high risk but felt it was better to focus on growing the local events. Some £332,000 had been spent on the exercise, including the initial feasibility study.

Economic Development Minister Laurence Skelly

DED chief executive Chris Corlett said: 

‘The intention is that the department will consider the bids in March.

‘If it is content to appoint one of the bidders, then the department will seek approval from Council of Ministers to submit a paper to Tynwald for consideration at the April sitting. Prior to then the department and the winning bidder will present the proposals to the media, the motorsport community and the business community on the island so that all stakeholders can be reassured the proposals are in the island’s best interests.

‘While DED legally owns the rights to the TT and incurs the large bulk of the costs and obligations of operating both the TT and Classic TT, we recognise these events are very important to many in our community and so we believe such public engagement at the right time will be essential.’

Nearly 30 organisations had shown an interest in bidding to become the promoter for the TT and Classic TT and requested a bid guide and pre-qualification questionnaire. These included some with a local interest and some which bid for the original tender.

The total number of visitors to the TT and Festival of Motorcycling has grown since 2010 to 57,000, and increase of 17,000 or 42 per cent. Their contribution to national income has grown to £27.8m, up 63 per cent and the exchequer benefit has grown by almost £2m to £5m, up 62 per cent.

The DED believes there are opportunities for further growth in both events and a private partner can bring experience, commercial acumen, new ideas and investment.

Mr Corlett told a Tynwald scrutiny committee in December that three companies had been shortlisted in the original tendering exercise but one dropped out leaving two principal tenders. Both were reviewed extensively before the decision was taken not to proceed.

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