Ulster Unionist MLA Mike Nesbitt, is backing the call from the Motor Cycle Union of Ireland (Ulster Centre) for government support to save the sport from collapse.

This time last week, it was revealed huge hikes in insurance cover had put at risk events from the North West 200 road races to motorcycle trials.

Mike Nesbitt, who also chairs Stormont's All Party Group on Sport & Physical Recreation, said:

"I have already made the point that previous Northern Ireland Executives have invited seven figure sums in sporting events, including the Giro d'Italia cycling and the Open Golf.

"Given the return on investment generated by the likes of the North West 200, which pumps in excess of £15 million into the local economy, I believe there is a strong argument in favour of public sector investment in ensuring the week goes ahead in 2023. There is also the precedent of what the government of the Isle of Man does to support road racing there.

"I commend the organisers for not sitting back and holding out a begging bowl. Their crowdfunding initiative proves they are actively doing what they can to address the financial shortfall, but it is already clear their efforts will fall short of what is required. Surely that adds up to a compelling case for intervention."