3rd February 2011
PRESS RELEASE
Re: FIDE World Chess Championship London 2012
Chess Promotions Ltd has been in discussions with FIDE since
February 2010 regarding the staging of the WCC in London. A € 50,000 deposit was
paid to FIDE to secure an option on the WCC 2012 match as negotiations commenced
and finance was sought.
Having secured the necessary funds, on July 21st 2010, CPL
sent FIDE a formal offer and a detailed commercial contract to stage the next
WCC match in London with financial terms similar to the 2010 WCC match at Sofia.
Unfortunately agreement could not be reached in the autumn.
Following more discussions in London in January, CPL asked FIDE to accept the
offer by Saturday 29th January 2011. No such acceptance was forthcoming.
Therefore, with regret, CPL has withdrawn its offer in time for the next
Executive Board meeting which starts today in Turkey in order to give the EB
clarity and the opportunity to consider alternatives. The timeline to stage a
WCC match before the Olympic Games in May 2012 is now too short.
CPL will continue to stage top class events in London. Dates
for the 3rd London Chess Classic will be announced shortly. We have registered
our interest with FIDE in staging events such as the World Rapid Championship
and World Blitz Championship in London and will continue to work on bringing
commercial sponsorship to chess in order to benefit our associated charity Chess
in Schools and Communities.
Malcolm Pein
CEO Chess Promotions Ltd.
