The cost of conducting a feasibility study and then promoter bidding process for the now-abandoned TT World Series concept rose to £276,000. Manx economic development minister Laurence Skelly was obliged to make this admission while responding to questioning in the Isle of Man’s House of Keys parliament on 27 October.
When London-based agency The Sports Consultancy was originally commissioned to investigate a putative TT World Series in November 2011, an agreed contract price of £57,000 was quoted for public consumption. However, three years later, Skelly said that the agency had received £188,428 for the study — which was then still being progressed as a viable proposition. Less than 12 months further down the line, after saying that he “didn’t feel the project was worth pursuing” and it had been abruptly shelved, more than £87,500 has been added to the final tally.