Bidding procedure for 2014 World Championship Match

For bids concerning the World Chess Championship Match 2014, FIDE and Agon are extending the deadline to 30 April 2014, 13:00 GMT

BIDDING PROCEDURE FOR THE FIDE WORLD CHAMPIONSHIP MATCH 2014

1. Following the success of last year’s World Championship match in Chennai, FIDE and its commercial partner AGON are searching potential venues for the 2014 FIDE World Championship match, where the world champion Magnus Carlsen will defend his title against a challenger to be determined from the Candidates Tournament in Khanty-Mansiysk this March.

2. The World Championship Match 2014 shall take place from 6 November (game 1) to 25 November 2014 (possible tiebreaks/closing ceremony).

3. Each bid shall contain the following particulars as minimum:

a) Proposed venue of the event.

b) Proposed prize fund for the players (should be offered net of any applicable local taxes). The prize fund for the 2013 event in Chennai was 1,850,000 euros.

c) The contribution to FIDE (net of any applicable local taxes and not less than 20% of the prize fund), as stipulated in article 13.2, as well as the financial obligations stated in article 14 of the World Championship Match 2014 regulations.

d) Commitment to cover all the other financial obligations to FIDE, in accordance with the regulations of the World Championship Match 2014.

e) Commitment to cover all organizational costs, in accordance with the regulations of the World Championship Match 2014.

f) Category of official hotel (minimum 4 stars), and name if possible, with special room rates for visitors, including meals.

g) A statement that the applicant accepts the regulations of the match without any reservations.

h) An invitation for 2 (two) members of the FIDE Commission for World Chess Championships and Olympiads to inspect the proposed venue and examine the other conditions, with all travel/hotel expenses paid by the bidder.

i) The applicant’s name, signatures and authentication.

4. In order for a proposed bid to be considered, it should be accompanied by a 9-month term bank guarantee covering the amount of prize fund (in Chennai 2013 this was 1,850,000 euros), the FIDE contribution (20% over and above the prize fund), 5% for WCOC budget and 5% for the commercial rights plus 32,500 euros covering stipends of Principals as described in article 14.5 of the match regulations. This guarantee should be from a bank that FIDE bankers, UBS of Switzerland, are able to confirm as acceptable.

5. Alternatively to the above paragraph, a bidder can deposit in FIDE’s bank account the amount of 200,000 euros by the deadline of 30 April 2014 (refundable if the bid is rejected), another 50% of the prize fund before 31 May 2014 and the balance of all remaining obligations before 31 August 2014.

6. A bid is considered valid if it is accompanied with a non-refundable Bid Fee of 2,000 euros payable to FIDE.

7. No bidder can propose a sponsor which shall be in conflict with the regulations of the International Olympic Committee (IOC).

8. The bids, including all original documents and particulars, should arrive by registered post to the FIDE Secretariat, post address: 9 Syggrou Ave., 11743 Athens -Greece. The bidding process will close on 30 April 2014, 13:00 GMT.

9. When the deadline has expired, the FIDE President or his representative shall open the received envelopes in order to assess the bids. FIDE will inform the bidding parties of the results within 3 days after the deadline. The final contract with the successful bidder shall be signed within 10 days afterwards.

10. FIDE reserves the right to accept a bid based on the evaluation of all criteria under article 3 of the present bidding procedure and not only that of the prize fund. FIDE also reserves the right not to award any bid at all, however favorable it might be.

Released by the FIDE Secretariat, 9 January 2014
Updated by the FIDE Secretariat, 11 March 2014

Regulations for the FIDE World Championship Match (FWCM) 2014