The chief operating officer for the Department of Tourism and Leisure says he believes there's a good future for the TT.

Nick Black was speaking as the DTL launched a new initiative to give companies and individuals the chance to become licensed partners of the event, as well as being able to use the TT brand and logo on merchandise and official activities.

Many people believe the event may have a limited life span and others are sceptical that it actually makes a profit for the Island.

However, Mr Black says he believes the event can change for future markets, whilst retaining it's uniqueness, and make money for the Island.