ChessBase 17 - Megapaket - Edition 2024
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Memorandum of understanding between the
Hon Kirsan Ilyumzhinov and Bessel Kok
in Prague December 21st 2006
Press release from Geoffrey Borg
Memorandum of understanding between the Hon Kirsan Ilyumzhinov and Bessel Kok in
Prague
The FIDE President Kirsan Ilyumzhinov and Mr Bessel Kok are happy to announce
that following a meeting in Prague on the 21st of December 2006, a Memorandum Of
Understanding has been signed. The parties agreed on the formal launch of a
company called Global Chess BV to be located in Amsterdam, in the Netherlands. A
five year business plan, a financial budget and the draft statutes of the new
company was approved.
With the exception of those competitions which have already been contracted by
Fide to organisers, Global Chess will become responsible for the marketing,
development and promotion of all FIDE tournaments and matches related to the
World championship cycles for Men, Women, Youths and Juniors.
It will also act as an investment vehicle for chess related projects that will
be selected by the Board following detailed feasibility studies for further
investment.Areas that will be considered are training academies, software, media
programmes amongst a number of projects that will be studied an which will help
in making chess more popular across the world.
Global Chess will work under a licence agreement to be granted by FIDE. This
follows the last Presidential Board meeting in Elista whereby it was agreed by
the FIDE Board to pursue discussions with Global Chess on a licence agreement to
achieve the above objectives.
The initial start up capital of Global Chess will be 4.5 million Euro to be
supplemented by an additional 5,5 million Euro to support future ventures in
chess related projects.
The initial Board of Directors will consist of Kirsan Ilyumzhinov, Bessel Kok
and Alexey Orlov. The Board asked Mr. Bessel Kok to act as its Chairman, which
he accepted. The Board also commissioned the management team required for Global
Chess BV.
Thanks and seasons greetings,
Geoffrey D Borg