Ilyumzhinov and Kok found Global Chess

by ChessBase
12/22/2006 – They ran against each other in the last FIDE election. But Kirsan Ilyumzhinov, the eventual winner, was so impressed by his rival's program that he has launched a ten-million dollar company, Global Chess, with Bessel Kok. It will be responsible for all major FIDE events, and for chess related projects. A new direction for the chess world.

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Memorandum of understanding between
the Hon. Kirsan Ilyumzhinov and Bessel Kok in Prague

The FIDE President Kirsan Ilyumzhinov and Mr Bessel Kok are happy to announce that following a meeting in Prague on the 21st of December 2006, a Memorandum Of Understanding has been signed. The parties agreed on the formal launch of a company called Global Chess BV to be located in Amsterdam, in the Netherlands. A five year business plan, a financial budget and the draft statutes of the new company was approved.

FIDE President Kirsan Ilyumzhinov

With the exception of those competitions which have already been contracted by FIDE to organisers, Global Chess will become responsible for the marketing, development and promotion of all FIDE tournaments and matches related to the World championship cycles for Men, Women, Youths and Juniors.

Dutch business professional Bessel Kok

It will also act as an investment vehicle for chess related projects that will be selected by the Board following detailed feasibility studies for further investment. Areas that will be considered are training academies, software, media programmes amongst a number of projects that will be studied and which will help in making chess more popular across the world.

Global Chess will work under a licence agreement to be granted by FIDE. This follows the last Presidential Board meeting in Elista whereby it was agreed by the FIDE Board to pursue discussions with Global Chess on a licence agreement to achieve the above objectives.

Ilyumzhinov and Kok during the FIDE election

The initial start up capital of Global Chess will be 4.5 million Euro to be supplemented by an additional 5.5 million Euro to support future ventures in chess related projects.

The initial Board of Directors will consist of Kirsan Ilyumzhinov, Bessel Kok and Alexey Orlov. The Board asked Mr. Bessel Kok to act as its Chairman, which he accepted. The Board also commissioned the management team required for Global Chess BV.


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