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.
Garage blaze in the early hours of this morning
The fire service says it tackled a fire in Douglas in the early hours of this morning, Tuesday, February 10.
Art anarchists "hiding gold bars" in Douglas this week
An organisation that describes itself as a "Crypto Anarchist Art Collective" claims it'll hide gold bars in Douglas city centre this week as it hosts an art show.
No cases of terror financing through charities
The government says it hasn't seen a single case of Island charities being used to funnel money to terrorists.
You can now adopt an ambulance
St John Ambulance has launched a new Adopt an Ambulance scheme.
Case for horse tram tracks 'under final review'
The business case for finishing the horse tram tracks is under final review, with the Department of Infrastructure hoping to submit it to Tynwald soon.
Council spends more than £1m on beads for cavities
Douglas Council's spent over 1.1 million pounds on insulation for social housing, according to a Freedom of Information request.
Police recruitment drop-in sessions tonight
The police will be holding two drop-in sessions this evening as part of their latest recruitment drive.
Ferry terminal and universal basic income on Keys agenda
The House of Keys sits later, to discuss topics including the Liverpool Ferry Terminal and universal basic income.
