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Hopes for a major leisure complex, to be sited on the former Summerland site in Douglas, have been dashed.
Talks between the Manx government and the Sefton Group have broken down, without agreement on the next crucial stage of the proposals.
John Moss reported live on the issue on Mandate at One:
Isle of Man's senior Roman Catholic priest pays tribute to Pope Francis
'Even though you know someone is very ill or dying, it's still a shock'
Stretch of Glen Helen Road to shut for highway repair works
Closure will be in place from 9.30am on Tuesday 22 April until 4.30pm on Thursday 24 April
Have your chance to speak to the Manx Care board
Q&A session to take place at Braddan's Roundhouse
Commissioners' disappointment as Cregneash bus service 'permanently withdrawn'
'Essential seasonal connection' lost, says Arbory and Rushen authority