My son reckons he is going to cycle round the course this TT. I suggested he collect for the helicopter fund or something.
Anyone know if there are any legal/insurance issues associated with this?

Thanks for that. It really clarifies things. People often want to donate to "the helicopter fund" and I have never been totally clear about all the funds before.

He might also want to consider the Joey Dunlop Foundation, which is working very hard to ensure there is enough money not only to build, but also to run, a place for disabled people to stay when they visit the Isle of Man. At TT and MGP time former riders will get priority, but at other times of the year, it will be available for children. Joey would be proud of it.