Any repeat of the Peel Bay Festival at next year's TT looks highly unlikely after the Government refused to underwrite the proposed event.
Tourism and Leisure Minister Adrian Earnshaw doubts enough people would come to the Island to make such a festival viable enough to risk taxpayer's money into it.
Organisers had asked the Government to underwrite the event for ?250,000 plus half of the ?80,000 marketing costs.
It's thought the Department of Tourism and Leisure has offered the 5000 plus capacity Villa Marina as an alternative venue.
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