Chennai, May 5 : The International Chess Federation (FIDE) is in advance talks with India and Singapore for hosting the World Chess Championship Match to be played later this year, a senior official said. He also said that FIDE is likely to get more than one formal bid while no formal bid has been received till now.

The World Chess Title Match will be played between the reigning champion and Chinese Grandmaster (GM) Ding Liren and the world's youngest chess title challenger Indian GM, 17-year-old D. Gukesh.

'No formal bids have arrived, but we stage intensive talks with several countries, with Singapore and India being on the most advanced stage. It is likely that we will get more than one formal bid,' GM Emil Sutovsky, CEO, FIDE, told IANS.

Last month, the All-India Chess Federation (AICF) President Nitin Narang told IANS that the federation is assessing the possibility of hosting the World Chess Title Match in India.

As per FIDE, the World Championship Match consists of 14 games and the player who scores 7.5 points or more wins the Match, and no further games are played. If the score after 14 games is equal, the winner is decided via tiebreak games.

The FIDE had recently called for bids from interested parties to host the World Chess Championship Match provisionally scheduled between November 20 and December 15, 2024.

According to FIDE, 31.5.2024 is the last day for submission of bids.

The other details are:

a) Total duration of the event ' up to 25 days

b) The Regulations shall be approved by July 1, 2024.

c) Minimum total budget of the event ' $85,00,000

d) Minimum prize fund ' $25,00,000

e) FIDE fee - $11,00,000

f) Payment for commercial, sponsorship and broadcasting rights will be specified according to the bidders' proposals.

g) The Organiser shall respect the rights of the FIDE sponsors and partners, including those for the video broadcast.

Interestingly Gukesh is now ranked sixth in the Open category, while Liren is ranked seventh.

"I believe Gukesh will be the slight favourite against Ding Liren. The world champion is a very good player. However, he has not been very active and his form is not at its peak," GM Susan Polgar former women's world champion (1996-99) told IANS when queried about the Indian player's chances of becoming a world champion.

(Venkatachari Jagannathan can be contacted at v.jagannathan@ians.in)

/IANS