MOTORSPORT experts are needed to carry out a feasibility study into the possibility of a TT Races World Championship Series.

The Isle of Man's Department of Economic Development is inviting expressions of interest from individuals or businesses to carry out the study.

The department announced the intention to review the possibility of creating a world series in March this year and this latest move is designed to further research the idea.

The intention is to build a platform that will increase the Isle of Man Government's return on investment in the TT Races brand through sponsorship, television, licensing and hospitality, generate 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 would also aim to seek to develop economic opportunities for the Island by promoting a greater awareness of the Isle of Man as a business jurisdiction.

Chief executive of the Department of Economic Development Colin Kniveton said: "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.

"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."

Interested parties are required to register with Rebecca Williamson, Procurement Services, The Treasury, Government Office, Bucks Road, Douglas, Isle of Man IM1 3PU or email rebecca.williamson@gov.im by August 5.