NEXT year's Isle of Man TT races are facing yet another budget cut after the island's Department of Sport and Leisure announced that a total of £500,000 will have to be saved in 2014 over the three major Motorcycle events - the Manx Grand Prix, the TT Races, and the Southern 100.
In addition to the motorcycle races in the Isle of Man, the island's two major rallying events will also have their funds trimmed back in 2014, which will inevitably put pressure on teams and riders from Ireland and the UK, in so much that the three-week TT Races may prove too costly for many of the smaller teams.
Paul Phillips, from the Isle of Man's Department of Sport and Leisure, said: "With the ongoing financial downturn hitting the Isle of Man, they are now left with no other option than to cut funding for all disciplines of motorsport for 2014."
The TT organisers are already looking at ways to save competitors and teams money, with the TT races bringing BSB Style rules into their Superbike classes in 2014, while the Supersport 600 class is likely to follow suit in 2015.
Meanwhile, Michael Dunlop has been voted Road Racing Ireland's Rider of the Year.
RRI editor Leslie Moore said: "It was not a hard one to work out this year as Michael set the bar higher than most in 2013, with his four-time victory in the TT races, plus wins at the North West 200 and Ulster Grand Prix.
"As Michael himself said this year, he was and still is learning the TT circuit, so his achievements were outstanding."
Dunlop (pictured left) took the number one spot from Toomebridge rider Eugene Laverty, who finished second in the 2013 World Superbike Championships.