Talks will continue in the coming months towards signing a deal between the Manx Government and preferred TT and Classic TT promoter Vision Nine.

The London-based company was due to take on the role from next year's races, but the lack of an agreement means the Department of Economic Development will organise them.

That means attracting commercial partners and sponsors for one year only or possibly in conjunction with Vision Nine, despite no contract being in place.

Issues have been raised by other government departments over operational matters.

Laurence Skelly says he accepts responsibility as economic development minister but adds he has a duty to make sure any future agreement with Vision Nine is right:

Hear what he has to say: - HERE