FIDE opens bidding process for World Championship

NEW DELHI: The All India Chess Federation (AICF) will have to shell out more than Rs 80 crore (USD 9.6 million) if it intends to host the World Championship clash between Indian prodigy D Gukesh and reigning champion Ding Liren of China.

The marquee match is tentatively scheduled between November 20 to December 15.

Chess’ global governing body FIDE on Saturday invited tenders from prospective bidders for the much-anticipated match.

AICF’s newly-elected secretary Dev Patel on Thursday expressed the national body’s willingness to host the grand finale which is garnering a lot of interest due to Gukesh’s presence.

The basic criteria outlined by FIDE for a prospective bidder is a budget of Rs 8.5 million (Rs 71 crore approx) and a facilitation fee of USD 1.1 million (Rs 9 crore) for the global body. The duration of the tournament is 25 days and approval of regulations will be completed by July 1.

The total prize money awarded by FIDE is around USD 2.5 million (Rs 20 crore plus) as the prize fund was increased from USD 2 million (Rs 17 crore) in 2023.