The Government is looking to appoint an independent promoter to organise and arrange the commercial side of the T.T., Classic T.T. and establish a World series.
London-based The Sports Consultancy was appointed in 2010 to look at the possibility of a T.T. World Series.
They now believe it is viable.
The plan is for the promoter to take over at the end of the 2016 Classic T.T., stage "test" events in other countries and rollout a global series from 2018.
The other rounds will take place over the winter months with the final round being on the Isle of Man.
Matt Wilson from The Sports Consultancy says Tynwald will decide the way forward later this year:-
Expressions of interest from relevant parties need to be in before Saturday 28th February.Clip 1