The Isle of Man Department of Economic Development has invited individuals and businesses to express their interest in the potential formation of the TT World Series, which was tentatively announced in March.

A proposal is currently being considered as to whether the Isle of Man TT, considered the world's foremost road race, will lend its name to a 'world championship' that will include events United States and Asia, as well as the Isle of Man itself.

The move comes as the TT continues to grow every season in spectator numbers and the calibre of rider it is attracting as both competitors and guests. With this in mind, the Department of Economic Development, the commercial rights holders for the TT races, is keen to capitalise on the interest.

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Organisers are considering lending the 'TT' moniker to the series in an effort to increase the event's visibility around the world through sponsorship, television, licensing and hospitality, generating revenue and earning opportunities for the competitors and teams who take part, and to provide economic and commercial benefits for the destinations and other commercial partners who host rounds.

It will also seek to develop economic opportunities for the Island by promoting a greater awareness of the Isle of Man as a business jurisdiction.

"Having held preliminary discussions with teams and riders about the event we are now looking to take the proposal to the next stage by seeking expressions of interest from suitable qualified businesses or individuals, with global motorsport experience, to provide the Department with an initial feasibility study which will set out the mechanics of how a TT World Series might operate," declared Colin Kniveton, Chief Executive, Department of Economic Development commented:

"We believe that with the growing interest in the TT Races, the World Series has great potential both to generate revenue and also increase the profile of the Isle of Man and the TT Races."