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.
DEFA releases figures on leased land
The Department of Environment, Food and Agriculture has revealed the amount of land it rents out to others.
MNH invites bids to run popular cafe
Manx National Heritage is looking for people to run an iconic café at a beauty spot in the West of the Island.
Fury finally confirms venue for Joshua fight
The venue for Tyson Fury's much-anticipated fight with Anthony Joshua has finally been announced as New York City.
Quayside road closure extended in Peel
An emergency road closure in the west of the Island has been extended as Manx Utilities carries out work.
Mars needs MHKs, says space society
A Island science organisation is calling on general election candidates to back space exploration.
Historic replica ship arrives in Douglas
A replica of one of the world's most historic ships has arrived in Douglas and is open to the public.
Vandals were flung poo fighting in Jurby
Jurby commissioners are hunting those behind anti-social behaviour that saw dog mess thrown about.
Don't give seals raw deals, says Wildlife Trust
The Manx Wildlife Trust is asking people to take extra care as baby seals start making an appearance around the Island's coast.
