FIDE sets minimum prize funds for European championships
April 20, 2012 – 11:39 AMT
PanARMENIAN.Net – The President of ACP GM Emil Sutovsky shared some of the key decisions reached by FIDE at the last Presidential Board in Elista on the air of Chess-News radio.
In particular, according to Sutovsky, FIDE set the minimum prize funds for the continental competitions, chess-news.ru reports.
“I prepared statistics of the prize funds that European championships used to have, showing how they gradually declined coming down to the fact that this year the players were paid a little bit more than €80,000 after deduction. FIDE considered that doesn’t correspond to the level of the Continental championship, so it has reached an agreement stating that from 2014 the minimum prize fund, including taxes, should be no less than 150 thousand euros for men championship and 100 thousand euros for women’s one.”
The Grandmaster added that the requirements for other Continental championships will be developed separately.
Source: http://www.panarmenian.net
Why not $1 million?