World Championship cycle: FIDE-UEP negotiations fail

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5/13/2009 – In February the World Chess Federation announced that it had an offer from Universal Event Promotion GmbH to stage the 2009-2011 World Champion cycle – to the tune of 3.5 to 4 million Euros. Now FIDE has announced that the parties had "not reached a final agreement." UEP blamed it on "different agendas relating to organisational sovereignty and commercial rights." Press releases.

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FIDE Press Release / 12-5-2009

FIDE announces that the negotiations with Universal Event Promotion (UEP), the original bidder for organising the final stages of the World Championship cycle 2009-2011 (Candidates Tournament and Final Match), did not reach a final agreement. FIDE is already in contact with other organisers and sponsors interested in holding these events.

Released by the FIDE Secretariat - 12 May 2009

Negotiations with FIDE failed

UEP news service 13th of May 2009

The negotiations over the organisation of the forthcoming World Championship cycle 2010-2011 (Candidates Tournament 2010 and World Chess Championship Match 2011) between Universal Event Promotion (UEP) and FIDE have failed.

Due to different agendas relating to organisational sovereignty and commercial rights, the parties failed to reach an agreement. Aggravating circumstances included FIDE's financial expectations beyond the original tender details.

UEP – the only bidder for the tender – believes that under such circumstances a permanent and successful marketing of the World Chess Championship will be questionable.

The negotiations ended by mutual agreement.

Media contact: georgios.souleidis@uep-worldchess.com