Revolutionizing Chess: New Series with $1 Million Prize Money per Tournament
Freestyle Chess, a new venture founded by Magnus Carlsen and Jan Henric Buettner, is set to revolutionize the world of chess with a groundbreaking tournament series. The company has secured $12 million in funding from Left Lane Capital to establish a series of tournaments that will showcase the world’s best chess players in a completely new and attractive format.
The Freestyle Chess tournament series will feature the top players in the world, each with compelling stories, competing in exclusive venues with an aura of luxury and style. The tournaments will be played according to chess960 rules, adding a new strategic element and unpredictability to the game.
Magnus Carlsen, who has committed himself to playing Freestyle Chess exclusively at the Grand Slam series, will handpick nine Super Grand Masters to participate in the events. The prize funding for the tournaments will be $750,000 for the first three events and $1 million for every tournament thereafter.
“Chess needs to evolve into a more dynamic and captivating spectacle, one that allows players to showcase their skills from the first move,” says Magnus Carlsen. The company aims to introduce Freestyle Chess as an exciting new global event series, with six to eight Grand Slam tournaments planned per year across all continents.
Left Lane Capital recognizes the immense potential of this innovative chess format, with CEO Harley Miller stating, “Any time you have the best athletes in the world competing at the absolute highest standard of play, coupled with more avant-garde storytelling and showmanship, you inherently will build something of great consequence.”
The funding from Left Lane Capital will be used to develop Freestyle Chess, organize and host the inaugural Grand Slam tournaments, enhance the digital experience, hire additional team members, and increase marketing efforts to grow the reach of the game.
With Magnus Carlsen and Jan Henric Buettner at the helm, Freestyle Chess is set to open a new chapter in the history of chess and redefine the future of the game. Stay tuned for the exciting launch of the Freestyle Chess tournament series and witness the world’s best chess players compete for a prize money of $1 million per tournament.