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 Therefore, with regret, CPL has withdrawn its offer in time for the next Executive Board meeting which starts today in Turkey in order to give the EB clarity and the opportunity to consider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.
What’s the real reason for the withdrawal?
They ran out of toothpaste and fish and chips.
Real reason: FIDE sucks.
The real reason is that CPL got tired of the clueless bean brains at FIDE. Every time I think that the folks at FIDE have done the most bone-headed thing that they can do, they do something even worse.
Sad news.
they did a good job with the recent London event (apart from using the insane soccer scoring system)
Do they get a refund of their 50,000 Euro deposit?
Why did the FIDE president get re-elected? It’s just embarrassing they way they handle any serious business