The group which runs the Mike Hailwood Riders Centre in Noble's Park says it's time for a re-think on its future use.
The centre behind the Grandstand was set up in 1983 in the name of the late TT champion, to look after promising newcomers and their families.
But recent expansion of the TT has seen a raft of new facilities for young riders, so the Mike Hailwood Foundation which is responsible for the centre, is considering other uses.
Possibilities include an after-school club, which would offer youngsters great potential for outdoor play in the park.
The Foundation's approached Douglas council to review its lease.
It wants the building re named simply the Mike Hailwood Centre and confirmation of the plot's boundaries.
Chairman of the Regeneration and Community Committee Stephen Pitts: