Firm that lost Isle of Man TT merchandise contract owes £160k

The UK firm had been licensed to supply merchandise until 2025

A company which lost the licence to supply official Isle of Man TT merchandise owes the Manx government about £160,000 in unpaid royalties.

Cube International Limited's contract was terminated after it failed to make the payments to the Department for Enterprise (DfE).

A DfE spokesman said the department intended to reclaim the unpaid funds.

The firm's chief executive Andrew Graham said he "fully respects" the decision to terminate the contract.

But he said the Worcester-based sports management company was also "saddened" by the loss of the contract, as it was currently undergoing a management buyout to expand the firm.

'Seamless transition'

The firm had been awarded a three-year contract at the start of 2023 to act as the official supplier of Isle of Man TT races merchandise.

The DfE spokesman said some Manx businesses that supplied Cube International were also owed money, and the department would help where possible to reclaim those outstanding funds.

However, 12 local firms that bought goods from the company have not been affected as merchandise was only paid for after it had been received, he said.

A new supplier would now be sought to ensure products could be delivered in time for next year's races, and local shops that supply TT products wouldbe supported to ensure a "seamless transition", he added.

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