Extract From Hansard Rolling RHF - House of Keys - 2nd December 2014
The Hon. Member for Douglas North (Mr Houghton) to ask the Minister for Economic Development:
What previous initiatives were brought forward relating to the operation of TT Formula World Championship events in decades past; and how his latest proposals will avoid failure?
The Speaker: Question 2, the Hon. Member for Douglas North, Mr Houghton.
Mr Houghton: Thank you, Mr Speaker.
I beg leave to ask the Question standing in my name.
The Speaker: The Minister for Economic Development, Mr Skelly, to reply.
The Minister for Economic Development (Mr Skelly):
Gura mie eu, Loayreyder.
There are few relevant comparisons between the TT Formula One World Championship, which the Isle of Man TT was a part of during the 1980s, and the project to investigate the feasibility of a TT World Series the Department is currently undertaking.
The TT Formula One World Championship ran from 1977 to 1990 following the removal of the Isle of Man TT from the Grand Prix World Championship. The Formula One World 1845 Championship was not operated by a commercial partner and it came to an end due to the rise in prominence of the World Superbike Championship.
The World Superbike Championship was and still is operated by third party commercial companies under licence to the Federation of International Motorcycling. The next stage of the TT World Series project, subject to Council approval, is to identify a suitable commercial partner 1850 to expand the commercial returns of the TT, including franchising a series of TT events globally.
In recent years the TT has gone through a period of dramatic growth. Global TV audience figures exceed 25 million viewers. There is increased media interest and we have achieved significant commercial results for the TT. Millions of pounds of new income have been generated through sponsorship, licensing, ticketing and e-commerce.
This period of growth has seen the TT’s importance within the motorcycle industry return to levels not seen since the 1960s, with all the major manufacturers fielding teams in the event. Meanwhile the number of fans coming to the event is now on the rise annually, with numbers rising by more than 10,000 in the last three years alone.
In summary, the TT World Series project is being undertaken at a time of growing success of the brand, rather than the period of relative decline that existed when the TT Formula One was introduced. We have reason to be cautiously optimistic about the future of the TT brand and the potential for expansion. Although we are yet to go to market with this opportunity, soft market testing has identified keen interest from world renowned commercial sports management companies and potential host venues.
Gura mie eu.
The Speaker: A supplementary question, Mr Houghton.
Mr Houghton: Thank you, Mr Speaker.
The Minister mentioned at a previous question that there was a further £72,000 paid at that time to the consultant. Can he confirm that that payment was actually authorised? Was the work authorised for that payment to actually be made by his Department?
The Speaker: Reply, sir.
The Minister: Gura mie eu.
I thank the Hon. Member for raising this issue, as he did previously. Yes, this payment was authorised by the Department and has now been concluded I believe.
(Nothing new in that discussion really, is there ) ?
TT events – Previous initiatives brought forward; new proposals
