REG - World Chess PLC - CHSS announces plans to Launch World Chess Tour

World ChessAnnouncement

23/10/2024 07:00

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RNS Number : 1941J  World Chess PLC  23 October 2024

23 October 2024

World Chess Plc

("World Chess" or the "Company" or the "Group")

World Chess announces plans to Launch the World Chess Tour

An Elite Global Chess Circuit for the Sport's Biggest Stars

World Chess (LSE: CHSS), a leading chess organisation committed to enhancing
the global mass market appeal of chess by introducing a variety of innovative
chess-related activities, is pleased to announce the planned launch of the
World Chess Tour ("WCT") in 2025. The proposed global circuit is expected to
feature chess's biggest stars alongside rising talents in a series of
tournaments modelled on the ATP Tour in tennis. The WCT has been designed to
revolutionise competitive chess by providing an annual structured,
high-profile series of events where players can compete for prestigious
titles, major prize pools, and global recognition.

The WCT proposes to feature weekly high-stakes online tournaments, as well as
six to eight open tournaments ("Opens") in major global cities, followed by
two Grand Slam events and a year-end Championship. The tour's points-based
ranking system will create clear pathways for players to climb the rankings,
culminating in a showdown among the world's top eight players for the World
Chess Tour Champion title.

Ilya Merenzon, Chief Executive Officer of World Chess, commented:

"It's about time chess reached a permanent position among major sports. For
the first time, the sport will have a structured tour with short, thrilling
formats and major prizes, accessible to both elite players and aspiring
talents. Our aim is that chess will have its own version of the ATP Tour."

An Elite Event for Chess's True Stars

Like the ATP Tour in tennis, the WCT will offer a platform for the world's top
players to compete across a structured series of events. The tour is expected
to attract the most recognised players in the sport, offering them the
opportunity to showcase their skills in high-stakes tournaments with global
media coverage.

Large Opens in global cities are expected to be the entry point into
professional chess for up-and-coming talent. The two Grand Slam events are
expected to feature 64 of the world's top players, all competing for major
prize money and prestige. These events, combined with the End-of-Year
Championship for the top eight players, will likely create a spectacle of
elite competition, establishing the WCT as the premier stage for professional
chess.

With prize funds targeted to reach up to $700,000 for the championship and an
additional $300,000 for the season points leader, the WCT aims to provide
financial incentives on par with the top sporting events globally.

A Marquee Sport Property with Global Sponsorship Opportunities

The WCT will be more than just a chess tour-it will represent a major
commercial opportunity for brands. Offering six key sponsorship categories,
including technology, finance, and lifestyle, the WCT is poised to attract
global partners seeking to engage with chess's rapidly expanding audience. As
chess continues its resurgence in global popularity, the WCT will offer brands
a prime platform to reach highly engaged and diverse demographics.

World Chess will seek long-term partnerships with global sponsors, providing
them with unmatched access to a sport that boasts millions of engaged fans
worldwide. With potential broadcast partnerships from up to 60 global
channels, the WCT is positioned to offer significant brand exposure through
live events, online platforms, and televised matches.

Tournament Structure and Pathways for Rising Talent

The WCT's structured format will feature rapid chess as its main competitive
format, providing a fast-paced and spectator-friendly experience. The tour is
expected to kick off with six to eight Opens, each designed to attract up to
500 players, offering aspiring players the chance to compete alongside elite
grandmasters.

From there, the most successful players will qualify for the Grand Slam events
and ultimately for the End-of-Year Championship. This structure has been
designed with the intention that the WCT is not only a stage for the biggest
names in chess but also a platform where new talents can make their mark.

The tournament breakdown includes:

●    Weekly Online Tournaments: Open to titled players and aimed at
broadening participation, the event will be hosted by chessarena.com, the
official FIDE Online Arena.

 

●    Open Tournaments: Six to eight events with up to 500 participants.

 

●    Grand Slam Events: Two elite knockout events, featuring the top 64
players.

 

●   End-of-Year Championship: The top eight players will battle it out
for a $700,000 prize fund, with an additional $300,000 prize for the season's
top points earner.

Leveraging Broadcast Expertise for Maximum Reach

Building on the Company's expertise in broadcasting high-profile events such
as the World Chess Championship and the Armageddon Series, World Chess plans
to bring the WCT to a global audience, with a focus on delivering high-quality
live broadcasts and digital streams. The rapid format will ensure the matches
are television-friendly, making them accessible to millions of viewers across
a wide range of platforms.

For more information about the World Chess Tour, visit https://worldchess.com
(https://worldchess.com) .

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

For more information, please visit https://worldchess.com/investors
(https://worldchess.com/investors) or contact:

 World Chess                                           Via Yellow Jersey PR

 Ilya Merenzon, CEO
 Novum Securities Limited - Financial Adviser          +44 (0) 20 7399 9400

 David Coffman / George Duxberry

 Allenby Capital Limited  -  Broker                    +44 (0) 20 3328 5656

 Joscelin Pinnington / Tony Quirke (Sales)

 John Depasquale / Lauren Wright (Corporate Finance)
 Yellow Jersey PR

 Charles Goodwin                                       +44 (0) 77 4778 8221

 Annabelle Wills                                       +44 (0) 77 7519 4357

 

Notes to Editors

About World Chess Plc

World Chess (LSE: CHSS) is a London-based chess gaming and entertainment
company and Fédération Internationale des Échecs ('FIDE') official
commercial partner. World Chess organised the FIDE Championship Matches in the
USA, and the UK, and revolutionised the sport by signing the biggest media
partnerships in history. World Chess develops Armageddon, the chess league for
prime-time television. World Chess also runs FIDE Online Arena, the exclusive
official chess gaming platform. More at worldchess.com
(https://worldchess.com/) .

Certain statements contained in this Announcement constitute "forward-looking
statements" with respect to the financial condition, results of operations and
businesses and plans of the Company and its subsidiaries from time to time
(the "Group"). Words such as "believes", "anticipates", "estimates",
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is made as to the achievement or reasonableness of, and no reliance should be
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