The Ulster Grand Prix is poised to return to the road racing calendar in 2027 after receiving a funding boost from the Northern Irish government.

The race on the iconic Dundrod course has not been held since 2019 because of the Covid-19 pandemic and financial difficulties staging the event.

Organisers, the Dundrod and District Club, was issued with a winding up order in 2020 and forced into liquidation after accumulating debts of around £300,000, eventually entering into a company voluntary arrangement with creditors.

In 2022, the Revival Racing Club, led by former TT ace Phillip McCallen, attempted to run the race in its 100th year but was unsuccessful in obtaining funding, while a further bid to reinstate the race by the Dundrod Club in 2024 also failed.

Earlier this week, however, it was confirmed the Northern Ireland Executive is to provide the Motor Cycle Union of Ireland (Ulster Centre) with multi-year funding in the region of £400,000.

A portion of the Stormont money, possibly in the region of 50%, is to be ring-fenced for the Dundrod event for improvements to the safety of the circuit, but direct funding for the race itself will not be provided.

The NI Executive has indicated they will support efforts made by promoters of the UGP in their bid to get additional funding through other government funds, including Tourism NI and Lisburn and Castlereagh Council.

The MCUI Ulster Centre Sports Promotions plan to run the race. In a statement released on Monday it said: ‘The event will need much financial support and we are inviting potential sponsors, investors to engage asap to raise the estimated running cost of £800k.

‘The event plans will incorporate a business plan which will deliver a sustainable world-class event for years to come.’

The event was previously part of the ‘big three’ international road race events alongside the TT and the North West 200.