The following statement has been released by the Department of Economic Development:

Following a joint meeting between the Department of Economic Development and Bushy’s today (Thursday 5th January 2017) an agreement has been reached in principle to allow the continued use of the Bushy’s TT trademark under a proposed co-existence agreement.

In confirming this Mr Rob Callister MHK, Member of the Department with responsibility for Motorsport said:

“We have had a very productive meeting and the Department has again confirmed the value and importance that Bushy’s brings to the festival through its long standing support. Bushy’s have a long track record in using the term Bushy’s TT and has a registered trademark for this in place. The Department does have a strong duty to protect the commercial relationships that are in place and to equally to protect the trademarks that we have to preserve the quality and commercial aspects of this hugely successful and important event.’

‘We will always look to question the commercial use of the trademarks the Department has when it becomes aware of a potential issue and I am pleased we’ve been able to reach an agreement that will continue to protect our commercial activities recognising that both parties do today have registered trademarks.”

Martin Brunnschweiler, Managing Director of Bushy’s confirmed:

“I am pleased that we have been able to secure a swift and amicable agreement to this issue.  Bushy’s clearly recognise the value of the TT Festival to the Island and supports the need for the Department to protect it for all of our benefit in the long term and I am hoping that matters agreed in principle will be formalised in the coming weeks so that we can then get on with all preparing for another successful TT Festival.”