It’s thought the loss of the TT is costing Douglas Borough Council upwards of £100,000.
The event was cancelled this year and government announced earlier this month the 2021 races have also been called off.
Council Leader David Christian says that decision didn’t come as a surprise.
He told Local Democracy Reporter Chris Cave the focus should now be on finding alternative ways of boosting the economy.
Record number of seal pups recorded
A record number of seal pups have been recorded on the Calf of Man.
Proposed laws could mean free period products
Proposed new laws could mean giving women free period products in future.
Unemployment fell slightly last month
The government says unemployment fell slightly last month but was still higher than last year.
GP waiting times to be raised in House of Keys tomorrow
Questions about waiting times to see doctors will be raised in the House of Keys tomorrow.
Waves higher than predicted on crossing which damaged cars
The Steam Packet says waves were even higher than predicted during Sunday's rough crossing which left several cars damaged.
Spitfire flights to be launched from Ronaldsway
Fancy a ride in an iconic WW2 aircraft?
Does Crogga owe the government money?
Does the company behind an abandoned bid to drill for gas off the Island's coast owe the government money?
Thinking of standing for election?
Thinking of standing for election? If you win, you may soon be able to swear an oath of allegiance to King Charles rather than the late Queen - and do it in Manx.
