The Department of Economic Development has released proposals to radically change the Manx Grand Prix Festival from 2013.

The new-look meeting will be shortened to 10 days with racing taking place over the August Bank Holiday weekend.

The emphasis will be on classic bikes with three races but there will be two for modern machinery as well.

The biggest move will see the name change to incorporate the T.T. brand. The move does not affect the 2012 Manx Grand Prix which will run in it's current format.

The proposals have been welcomed by the Manx Motorcycle Club.

Minister John Shimmin says the move is designed to increase revenue for the island and create the most prestigious races for classic motorcycles in the world.