Next year's Isle of Man TT races will again be promoted by the Manx government after the appointment of London-based promoter Vision Nine was put on hold until 2018.

Vision Nine had been due to take over the running of the TT and Classic TT events in 2017 after receiving government approval in April.

However, issues raised by other government departments and finalisation of the terms of the agreement with Vision Nine, which is taking longer than expected, have resulted in the delay.

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Economic Development Minister Laurence Skelly wants Vision Nine to take over at the 'earliest opportunity'.

"We are still looking to work with Vision Nine and hope to conclude the appointment at the earliest opportunity."

Vision Nine's Julian Topham said the company remained committed to taking over the reins in 2018.

"We are committed to working with the government to create an operating structure tailored to the needs of the TT and Classic TT. We are looking forward to taking over as promoter of the 2018 events."

The legendary road race on the Isle of Man has been promoted by the Manx government since it was first held in 1907.