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World Chess Championship 2012 (Bid Withdrawn)

London withdraws 2012 World Chess Championship Bid

IM Malcolm Pein, CEO of Chess Promotions Ltd. Photo © Ray Morris-Hill.

IM Malcolm Pein, CEO of Chess Promotions Ltd. Photo © Ray Morris-Hill. | http://www.londonchessclassic.com

IM Malcolm Pein has released a statement on behalf of Chess Promotions Ltd of which he his CEO announcing that they could not arrive at an agreement with the International Chess Federation FIDE to host the World Chess Championships in London in 2012. After lengthy negotiations with FIDE they put a proposal to the organisation and a final deadline of Saturday 29th January 2011. Once that deadline passed without agreement they had to withdraw from the process as they felt there was too little time left to organise the event properly. A specific problem was that there was a deadline to sign an agreement to obtain their preferred venue that passed once agreement couldn't be found.

Read Malcolm Pein's statement in full.

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 Therefore, with regret, CPL has withdrawn its offer in time for the next Executive Board meeting which starts today in Turkey in order to give the EB clarity and the opportunity to consider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.

Chess Promotions Ltd

44 Baker Street, London W1U 7RT

Email: chesspromotions@gmail.com

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