FIDE and Global Chess agreed on key points

Press Release

The FIDE negotiating team headed by Deputy President G. Makropoulos and the Global Chess team led by Managing Director G. Borg successfully completed negotiations on an agreement which authorizes Global Chess BV to act as FIDE marketing support agent on worldwide basis. In accordance with the Memorandum of Understanding signed by the parties, Global Chess has the rights as of July 1st, 2007 to promote forthcoming FIDE events including world chess championships and Chess Olympiads to corporate sponsors and organizers as well as to apply quality control and monitoring measures in order to ensure the best possible conditions for the events.

During the negotiations, FIDE has expressed its high expectations towards the successful work of Global Chess and promised overall support for its activities in the chess events enumerated in the annexes of the agreement. G. Borg referred to the mutual interests of the parties and all stakeholders to keep chess events at the highest possible level and on a solid financial basis.

The agreement will be presented to the FIDE Executive Board for ratification at its forthcoming meeting in November, 2007.

Peter Rajcsanyi
PR and Marketing Director

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