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.
Well-known farm in the west up for sale
A landmark farm in the west of the Island has gone on the market.
Pet foodbank needs your help!
An Island organisation which acts as a food bank for pets on the Island is appealing for urgent help after a surge in demand.
How much cash can government raise in 10 days, asks MHK
How much cash can the government lay its hands on in 10 days if it needed to?
LegCo considers meeting on a different day
Should the Legislative Council sit on a different day in future?
Extra promenade bus facilities would cost estimated £735k
The Department of Infrastructure says extra bus stops and shelters at the end of Douglas Promenade would cost around £735,000.
Medieval cross returned home to Royal Chapel
A medieval cross dating back to the 10th century has returned to the Royal Chapel of St John's.
Arbory MHKs in "parasite politicians" spat
A question about nicotine pouches has turned into a social media spat between MHKs in the south of the Island.
Tyson Fury's boxing glove sold for £7k in charity auction
Island resident Tyson Fury's boxing glove has been sold for £7,000 at a charity auction.
