Gukesh vs Ding Liren: It will cost about Rs 70 crore to host World Chess Championship

But what does it take to host the World Chess Championship? We break it down in this explainer:

First things first, it must be mentioned that the World Chess Championship is not one single game, but a “match” of 14 games (plus tiebreaker games in faster time controls) between the reigning world champion (Ding) and the challenger, who has qualified by winning the Candidates (Gukesh). The winner of the contest is crowned (or retains the crown) of the world chess champion for the next two years, until a new challenger comes from the Candidates.

Dates for the World Chess Championship

While FIDE (global governing body of chess) is yet to announce dates for the World Chess Championship match, it has said that the battle will “provisionally be scheduled between November 20 and December 15”.

When does bidding for hosting rights start and end?

The bidding process opened on Saturday with FIDE inviting prospective bidders to send in their bid proposals. The deadline for interested parties to submit the bidding form will be May 31. After this, FIDE could enter into additional negotiations with any of the applicants in order to improve or modify the bid.

How many days will the event last?

The total duration of the World Chess Championship event will be up to 25 days.

What will be the total cost that a nation pays to host the event?

As per FIDE, the minimum total budget of the event will be $8.5 million (approximately Rs 70 crore). This cost includes the prize fund and the FIDE fee of $1.1 million (approximately Rs 9 crore) besides other organisational expenses.

What do both players make at the World Chess Championship?

The winner of the last World Chess Championship, Ding Liren, earned $1.2 million (approx. Rs 10 crore). The player who lost, Ian Nepomniachtchi, took away $9,90,000 (approx Rs 8 crore). For the upcoming World Chess Championship event, while the breakdown is yet to be made public, the prize fund has been increased from $2 million to $2.5 million, so both Gukesh and Ding will earn higher than the previous World Chess Championship.

How much money did Gukesh earn for winning the Candidates tournament

For winning the Candidates, Gukesh pocketed a cool €48,000. This was besides the bonus 3,500 euros FIDE offered to all players for every half point scored at the event. This means Gukesh earned €63,000 from the nine points he accumulated at the event. So Gukesh’s total earnings from the Candidates should be about Rs 98 lakh.

What documents does the bidding nation have to submit to FIDE?

Guarantee letter or any confirmation of the financial base of the bid; a promotional plan of the event (if any); commercial, sponsorship and broadcasting rights specification (the proposal from the Organiser regarding distribution of the commercial, sponsorship and broadcasting rights between FIDE and the Organiser) and a detailed draft of the Event’s budget.