ChessBase 17 - Mega package - Edition 2024
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NEWS
RELEASEJanuary 16 2003
Einstein Group is disappointed ChessBase neglected to check with us before posting
an article concerning
Einstein on its web site.
All the participants in the Dortmund Chess Tournament have now been paid.
Einstein can confirm it has experienced financial problems over the course of
2002. These problems were greatly exacerbated by the position the company was
left in by Brain Games Network plc, following the purchase of the chess assets
from them.
Einstein faced an unexpected shortfall of €90,000 in the Dortmund event
due to the problems it was left by Brain Games. Einstein was forced to fund
this shortfall from its own resources. This was entirely unexpected and has
caused considerable problems.
We have had minimal contact with Madame Ojjeh since Dortmund and can confirm
that the payment issues are entirely Einstein's problem.
Einstein has now completed its re-financing and is confident that it can meet
its World Championship obligations.
Steve Timmins
Chief Executive Officer
Einstein Group plc
