Gov to go After TT Merch Money

The DfE intends to pursue the £160,000 owed to the islander by the former TT merch contractor.

Cube International’s deal to provide TT merch was terminated this week with the company owing money to the gov and local businesses.

The company was contracted to make royalty payments to the DfE at regular intervals as stated in the contract terms that were agreed on award of the tender to its former subsidiary company Cube Partnership. 

A spokesperson told Gef: ‘The Department has acted in order to protect its income and intends to pursue monies owed by Cube International that currently totals approximately £160,000 to date. However, whilst the amount owed to the Department remains substantial the Department has not committed to any expenditure which was expected to be offset by this income.

 ‘The contract with Cube was intended to be for an initial 3-year period and within the contract Cube were responsible for the licensed supply of official TT merchandise via shop.iomttraces.com as well as a growing number of retailers in the Isle of Man totalling 12 businesses to date.

‘Merchandise was provided to retailers with payment due after receipt of goods so local retailers are not exposed financially. The new tender process will ensure that merchandise can be delivered to local retailers in time for the 2024 TT event. The Department is in contact with local retailers who have historically stocked TT product to ensure a seamless transition to the new contract holder following the tender process.

 ‘The Department for Enterprise is aware of and in contact with a small number of businesses in the Isle of Man who acted on a supplier basis to Cube International Ltd that have also have outstanding financial payments owed. The Department will be working with these businesses and will support them where possible in pursuing any outstanding funds.’