The Isle of Man Government Department of Economic Development, the rights holder of the TT Races, is progressing its plans to develop a TT Races World Series.

The TT Races have been running on the Isle of Man since 1907 and is one of the world's oldest continuous motorsport events. It currently attracts around 40,000 visitors to the Isle of Man annually contributing £25 million to the local economy and generates over £2 million in gross commercial revenue.

The TT Races had an audited worldwide TV audience of over 23 million viewers in 2012 with leading broadcasters including ITV in the UK, Australia's Channel 10 and Discovery Velocity in the USA taking the eleven one hour TT highlights shows produced by North One TV. The official iomtt.com website has over 2 million unique users annually.

The Isle of Man Government has completed an initial feasibility study, carried out by London based agency The Sports Consultancy, into the formation of a World Series of Motorcycle Races based around the original TT concept.

The initial feasibility study included a review of the intellectual property rights, suitable venues, commercial contracts and income opportunities, marketing and promotion, safety and risk management and logistics as well as team, manufacturer and competitor involvement.

The Department is now investigating the option of attracting a commercial partner to develop and promote an international series of races based on the Isle of Man TT concept that leverages the Isle of Man TT brand. It is anticipated that such a delivery partner would be responsible for all operational aspects of the Series including the Isle of Man round.

Laurence Skelly, Isle of Man Government Department of Economic Development Representative with responsibility for Motorsport and Tourism commented:

"We have re-established the TT profile worldwide and are now ready to capitalise on the brand's strength by working with an external partner to take the event to the next level."

He continued:

"We have already received positive feedback and interest from a number of international partners and potential hosts who believe in the concept of a TT World Series."