Thirteen organisations have expressed an interest in becoming an independent promoter to manage and commercialise the TT and Classic TT and develop an Isle of Man TT series.
Expressions of interest were received by the Sports Consultancy who are managing the process on behalf of the government.
A number of international venues and locations have also declared an interest in hosting a TT series event.
The first stage of the bid process closed on 27th February.
Expressions of interest were received from a number of sectors including specialist motorsport promoters, broadcasters, major event promoters and sponsorship rights management companies.
Respondents now have until 10th April to complete the pre-qualification questionnaire, after which the Department of Economic Development will evaluate the responses and progress suitable bidders to the preliminary tender stage of the process.