World Chess shares surge on launch announcement of World Chess Tour
() , a London-based chess gaming and entertainment company, announced the planned launch of the World Chess Tour (WCT) in 2025. The proposed global circuit is expected to feature chess' biggest stars in a series of tournaments modelled after the ATP Tour in tennis.
The WCT is expected to feature weekly high-stakes online tournaments as well as 6-8 open tournaments in major cities worldwide, followed by two 'Grand Slam' events and a year-end championship. The circuit will use a points-based ranking system, allowing players to advance through the ranks and culminating in a final showdown between the top 8 players for the title of 'World Chess Tour Champion'.
The WCT will feature significant financial incentives on par with other top sporting events, with prize funds expected to reach US$700k for the championship and US$300k for the season points leader.
Ilya Merenzon, CEO of World Chess, commenting: "It's about time chess reached a permanent position among major sports. For the first time, the sport will have a structured tour with short, thrilling formats and major prizes, accessible to both elite players and aspiring talents. Our aim is that chess will have its own version of the ATP Tour."
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World Chess announces a major chess tournament designed to compete with top global sporting events, such as the ATP Tour. The WTC format will feature 'rapid chess', providing a fast-paced, spectator-friendly experience. The event will kick off with 6-8 opens, each featuring up to 500 players, giving exposure to aspiring players as well as the elite grandmasters.
The circuit will culminate in two 'Grand Slam' events featuring the top 64 players, and ultimately the end-of-year Championship featuring 8 players competing for a US$700k prize pool with an additional US$300k for the season's top points earner.
The WCT will be a major commercial opportunity for partners, offering 6 key sponsorship categories, including technology, finance, and lifestyle. aims to establish long-term partnerships with major brands seeking to engage with online chess' rapidly expanding audience. With an expected 60 global broadcast partners, the WCT will offer significant exposure through live events, online platforms, and televised matches.
Overall, the tournament has the potential to disrupt competitive chess by making it more engaging for viewers, while offering a high-stakes annual competition where aspiring and elite players face off in rapid events for major titles, global recognition, and substantial prize pools.
Since listing on LSE Main Market in April 2023, has significantly expanded its merchandising and commercial efforts. It opened the World Chess Club Berlin whose success it hopes to replicate in other cities. hosted the inaugural Armageddon Championship Series at the location, which was broadcast across 33 TV networks, including Bloomberg and CNBC, making it one of the most televised chess events ever.
These activities significantly raised the profile of the company, and we see plenty of additional upside from the WCT, as has clearly demonstrated that one of the world's oldest board games offers ample opportunities for innovation. Additionally, 's growth is supported by its exclusive license from FIDE, the international governing body for chess, which significantly reduces competition and creates substantial cross-selling opportunities.
shares jumped on the announcement, peaking at +21% and consolidating to +13% as of time of writing.
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