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India eye hosting right for World Chess Championship, FIDE sets $9.6m as budget

FIDE opened bidding process for World Championship clash, earmarking budget of $9.6 million with AICF expressing interest in hosting the event.

India eye hosting right for World Chess Championship, FIDE sets $9.6m as budget

FILE PHOTO: With a draw against Hikaru Nakamura, Gukesh became the youngest winner of the FIDE Candidates. (Photo credit: FIDE)


The Bridge Desk

Updated: 28 April 2024 6:19 AM GMT

The All India Chess Federation (AICF) faces the prospect of investing over Rs 80 crore ($9.6 million) should it opt to host the World Championship showdown between Indian sensation D Gukesh and reigning champion Ding Liren of China.

FIDE, the international governing body for chess, recently issued a call for tenders from potential hosts for the prestigious event.

AICF's newly-appointed secretary, Dev Patel, has expressed the federation's keenness to organize the spectacle, particularly given Gukesh's historic feat of becoming the youngest-ever challenger for the world title by clinching the Candidates Tournament in Toronto.

FIDE's stipulations for potential bidders include a budget of INR 8.5 million (approximately INR 71 crore) and a facilitation fee of $1.1 million (approximately INR 9 crore). The tournament is expected to span for 25 days, with regulations set to be finalised by July 1. The total prize money, boosted to around $2.5 million (over INR 20 crore) by FIDE, reflects an increase from the previous year.

Additionally, the organiser must adhere to FIDE's guidelines regarding commercial, sponsorship, and broadcasting rights, ensuring due respect for the interests of FIDE's sponsors and partners. Prospective bidders are required to provide a detailed breakdown of the budget, including proposals for payments related to commercial and sponsorship rights, broadcasting rights, and the distribution of sponsorship and broadcasting revenues between FIDE and the organizers.

The highly anticipated match, tentatively slated for November 20 to December 15, has spurred interest globally, with chess enthusiasts eagerly awaiting the clash of titans.

The final decision on the host for the championship will be based on various factors, including the proposed conditions and the broader interests of chess development. The deadline for submissions is set for May 31.

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