Economic Development Minister John Shimmin says other countries have expressed 'clear interest' in a potential TT world series.
Responding to a House of Keys question from Douglas member John Houghton this morning, Mr Shimmin said that almost £122,000 had been spent to date to carry out a feasibility study to see whether a world series would work as a sporting concept. If it's workable, it could be in place by 2017.
First, the initiative will need Counci of Ministers approval then go before Tynwald.
Mr Shimmin said: 'The economic benefits are quite considerable if we were to partner with cities around the world, some of whom have already expressed a clear interest. It would not be a 37 mile road race. it would be a shorter distance, including a circuit on the roads. It is potentially very viable and it does merit further investigation.
'It offers the possibility of increasing the economic and fiscal benefits of the TT.'
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