The study in to the proposed TT World Series will cost £57,000, a statement revealed on Tuesday.
The Sports Consultancy, which will deliver the project with its partner Capita Symonds, will charge the fee for the work including travel and all other expenses associated with the project.
The five-month contract, which started earlier this month and will run until March, features a team of eight people.
The study will include a full analysis of all technical and commercial aspects of the potential World Series as well as a detailed review of the potential economic impact and legal examination.
The team has already begun conversations with a number of stakeholders including teams and riders, manufacturers, sponsors, suppliers as well as comparable global events and potential host cities.
Continuing with the TT theme, next Monday will see the officially launch of Closer to the Edge on DVD.
Local motorcycling heroes Conor Cummins and Milky Quayle will be at HMV from 5pm to sign copies and have their pictures taken with fans, the store will stay open until 6.30.
Road closures for Manx Motor Racing Club from next week
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