This will take place over the middle weekend and August Bank Holiday Monday, and will also feature the VMCC’s Festival of Jurby meeting on the Sunday.
The Manx GP races are then scheduled to run on the following Wednesday to Friday.
The Isle of Man Government’s Department of Economic Development will promote the Classic TT and will contract the Manx Motor Cycle Club to deliver the races. Regulations for these races have yet to be confirmed.
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The club will assume responsibility for promoting and organising the Manx GP races will financial support from the Government.
Economic development minister John Shimmin said: “We are confident that we have a clearly segmented and focused festival that can generate additional visitors to the Island and the team will look to further develop the Classic TT and festival.”
Club chairman Harvey Garton said: “We have a clear way forward for the Manx Grand Prix races as part of the festival and will be working closely with the Government to build and grow the event. We are now focusing all of our efforts on delivering a successful 2012 event.”
Overall, the festival will consist of the Classic TT races, the Manx GP races, the Manx Classic and Manx Two Day trials and the VMCC Manx Rally including the Festival of Jurby.