Former Irish Superbike Champion Michael Pearson has been forced to pull out of this year's Isle of Man TT because funding to compete in the June festival isn't available.
With the current credit crunch being felt by everyone involved in motorsport, Pearson and his team have decided to take in the Isle of Man's Southern 100 meeting in July instead of the TT, with Pearson electing to ride in both the Supersport 600, and Superbike classes.
"I have looked at it all very carefully and, to be honest, the money is just not there to do the TT," said Pearson. "I would love to do it, make no bones about it, but three weeks of work, coupled with the current financial situation in the UK and Ireland, makes it a non starter for myself and the team.
"It would probably cost me as much to do the TT in 2009 as it would to do a full season in the Irish Championships, so as you will guess, it did not take us long making our minds up. I think you will see other riders looking carefully at their plans for 2009, so lets hope we can all ride this wave and hopefully get back on track for a visit to the TT in 2010."
Team manager Willis Marshall added: "It's going to be a difficult year for everyone and decisions have to be made now so that we can concentrate on what we will be doing in 2009.
"Michael will contest a full season in both the Irish and Ulster Road Race Championships in the Supersport 600 and Superbike classes, along with the NorthWest 200, the Southern 100, Ulster Grand Prix, Cock o the North, and Gold Cup meetings at Scarborough.
"At the moment, we have the ex-Keith Amor 600 Honda ready to go, and we are in the process of getting the Superbike prepared. Both machines will be ready for the start of the season.
"We are still in talks with our sponsors from 2008, so until such a time that we know what they are prepared to do, leaves us in limbo, but we fully understand the difficulties that companies are having, and whatever comes along, comes along.
The good news is that we have secured deals from Dunlop, Ara and Dianese, so we are looking forward to working with them in 2009."
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