Bids for the WCC Challengers Match Kamsky - Topalov 2008 Print
Tuesday, 19 February 2008 00:00
FIDE President has authorised the extension of the deadline for receiving bids for the match V. Topalov - G. Kamsky until April 23rd 2008.

FIDE has accepted an offer for the WCC Challengers Match Kamsky - Topalov 2008 by the Bulgarian Chess Federation. This offer included a net prize fund of 150,000 USD and has been approved by the FIDE Presidential Board since June 2007.

However, after the recent FIDE Presidential Board meeting in Singapore and following discussions with all parties involved, FIDE has decided the following in order to try to improve the financial terms and conditions for both players. Athens, 11 February 2008
BIDS FOR THE WCC CHALLENGERS MATCH KAMSKY - TOPALOV 2008


FIDE President has authorised the extension of the deadline for receiving bids for the match V. Topalov - G. Kamsky until April 23rd 2008.

FIDE has accepted an offer for the WCC Challengers Match Kamsky - Topalov 2008 by the Bulgarian Chess Federation. This offer included a net prize fund of 150,000 USD and has been approved by the FIDE Presidential Board since June 2007.

However, after the recent FIDE Presidential Board meeting in Singapore and following discussions with all parties involved, FIDE has decided the following in order to try to improve the financial terms and conditions for both players:

a) if by 11 April 2008, FIDE receives a bid with a net prize fund of 250,000 USD (minimum) from any country other than USA, Bulgaria, Russia and Spain, then the match will be organised in that country with the highest bid.

b) if by 11 April 2008, FIDE receives a bid with a net prize fund of 250,000 USD (minimum) from USA, Russia or Spain, the organisers in Bulgaria will be requested to match that bid by 30 May 2008. If Bulgaria matches the new bid, the event will be organised in Bulgaria. If Bulgaria refuses, then the match will be organised in the bidding country.

c) if by 11 April 2008 no such bids arrive, the match will be organised in Bulgaria with a net prize fund of 150,000 USD.

In order for a proposed bid to be considered, it should be accompanied by a 2-month term recognised bank guarantee covering the amount of prize fund (minimum 250,000 USD), the FIDE contribution (20% over and above the prize fund), and 35,000 USD covering expenses of FIDE as described in articles 3.17.4 and 3.17.5 of the match regulations. Within 30 days of a bidder being awarded the event, the amount of the bank guarantee should be transferred to the bank account of FIDE.

Each bid shall also contain the following particulars:
a) Proposed exact dates of the event between 26 November and 11 December 2008.
b) Proposed tournament venue.
c) Proposed prize fund.
d) Commitment to cover all organisation costs, in accordance with the match regulations.
e) Special rates for hotel rooms, including meals.
f) A statement that the applicant accepts the regulations of the Match without any reservations.
g) The applicant's name, signatures and authentication.
h) An invitation for at least one member of the World Chess Championship Committee to inspect the proposed venue and examine the other conditions, with all expenses paid by the bidder.

No bidder can propose a sponsor which shall be in conflict with the regulations of the International Olympic Committee (IOC).

The bids, including all original documents and particulars, shall arrive by registered post to the FIDE Secretariat in Athens, Greece by the deadline of 11 April 2008.

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Released by the FIDE Secretariat - 11 February 2008

 
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