The 1949 Isle of Man Tourist Trophy was the first round of the Grand Prix World Championship that was held in the Isle of Man.
At the FICM (later known as FIM) meeting in London near the end of 1948, it was decided there would be a motorcycle World Championship along Grand Prix lines. It would be a six-race annual series with points being awarded for a placing and a point for the fastest lap of each race. There would be five classes: 500 cc, 350 cc, 250 cc, 125 cc and 600 cc sidecar.
Harold Daniell, on a Norton, won the 500 cc Senior TT event at an average speed of 86.93 mph. Les Graham, on an AJS Porcupine 500 cc twin, led the Senior race until the last lap when his magneto drive sheared. He pushed the bike past the finish line in tenth place. As he had finished the race he gained one championship point for recording the fastest lap.
Four clubman races were included; the Clubmans Senior, Clubmans Junior, Clubmans Lightweight, and the new Clubmans 1,000 cc.
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—William Butler Yeats (1865–1939)