The redevelopment of the Bowl in Douglas appears to be off.
Borough councillors have voted 10-6 against funding the project to the tune of ?1.7 million, at the end of a debate lasting two and a half hours.
In the end, arguments that the project was just too costly for ratepayers, won the day.
It means the stadium is unlikely to be redeveloped in time for the 2011 Commonwealth Youth Games.
The total cost is ?3.7 million, and the tourism minister has already made it clear his department cannot pay for the entire project without the corporation's help.
Council leader David Christian:
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