Kendal motorcycle racer, test rider and journalist Ian Scott, known to many as Gus, was completing a practice lap for the senior race when his motorbike was in collision with a steward on the east side of the island.
It was the first time Mr Scott, a 40-year-old father of one, had taken part in the event.
But now the motorcycling fraternity, including some of the biggest stars on the Superbikes and Moto GP circuit, have joined together to help raise money to be held in trust for Mr Scott's 11-year-old daughter Yasmin.
Top race riders Niall Mackenzie, James Whitham, John McGuinness and former World Superbike champion Neil Hodgson have confirmed they will be among those attending a special auction of priceless items donated by some of the biggest names in the sport.
Lots at the event, to be held at the home of the North Yorkshire Road Racing Supporters Club, Club Amadeus, in Northallerton, on Sunday, November 27, at 5pm, will include signed kit and motorcycling memorabilia as well as VIP passes to some of the biggest events in the racing calendar.
Motor racing photographers have also donated many professional shots of top riders, including Mr Scott, for fans to purchase on the Internet and boost the funds still further.
Gus Scott's parents, Burneside residents Brian and Valerie Scott, said they had been overwhelmed by the support of the motorcycling community.
Mr Scott said: "We didn't know just how good a rider Ian was but we have been stunned by the support his friends, colleagues and racing competitors have shown. They came up with the idea of the auction to put some money in trust for Yasmin for the future. They really couldn't do enough for us and we can't thank them enough for that.
"We are going to the auction it's incredible how many things have been donated for it - so hopefully it will be a success."
He added: "Obviously, we will never get over losing Ian. The only way we can look at it is that he was doing something he loved and was passionate about."
Details on the auction are available on www.gusscott.com.