Ross Noble

More than £400,000 was spent on bringing acts to the TT and Classic TT this year.

But the events made an overall profit of £136,832.

A breakdown of costs for each of the three acts that performed in the TT hospitality tent - Reef, Ross Noble and the Bootleg Beatles - was requested in Tynwald by Onchan MHK Julie Edge.

Enterprise Minister Laurence Skelly said the cost of the acts totalled £52,722.

Total cost for the provision across both events in 2018 of catering, refreshments and contractors costs was £418,300.

Provision for VIP guests was £298,124.

Total tickets sales were £555,132.

So direct overall financial profit from the hospitality tent from direct ticket sales alone was £136,832 for the 2018 events.

But Mr Skelly said that significant sponsorship revenue would be lost if sponsors did not have access to the hospitality unit.

The £298,124 total cost of provision for VIP guests on race days across both events includes the costs of catering and refreshments, bar provision, management and staffing.

Total notional cost for the provision of complimentary tickets across both events in 2018 was £8,625.00.

Mr Skelly said:

’The direct overall financial profit from the hospitality tent from direct ticket sales alone was £136,832 for the 2018 events.

’However, there is also a financial benefit that it is not possible to allocate, apart from those tickets that are part of a sponsorship agreement, where there is also a significant percentage of sponsorship revenue that would be lost if sponsors did not have ability to access the hospitality unit.’