Ravichandran Ashwin, a player from New Delhi, India, has become co-owner of American Gambits, a new team that will participate in the second edition of the Global Chess League, a joint venture between Tech Mahindra and the International Chess Federation.

This Monday the League unveiled the six franchises for the second edition that will be held in London from October 3 to 12.

American Gambits, owned by prominent business leaders Prachura PP, Venkat K Narayana and Ashwin, will replace Chingari Gulf Titans.

"We are delighted to introduce American Gambits to the world of chess. With a combination of strategic brilliance and unwavering determination, our team aims to redefine the game. As a co-owner, I am excited to witness their journey and contribute to their success," Ashwin said in a press release.

The other five franchises - Alpine SG Pipers, PBG Alaskan Knights, Ganges Grandmasters, defending champions Triveni Continental Kings and Mumba Masters will return for a second season.

Sameer Pathak, CEO of the Global Chess League, said: "We are delighted to welcome teams for the second season of the Global Chess League. We have found the right partners to strengthen the league's global reach and look forward to offering an exciting season of chess to fans around the world.

"The teams made the first season a great success and we believe their impact and popularity will continue to expand in the world of chess."

Players will compete in a unique joint team format consisting of six players, including two top chess players and one prodigy player per team.

To increase excitement and anticipation among fans, this innovative format will air on major OTT and streaming platforms around the world.

In the tournament, each team will play a total of 10 matches in a double round-robin format, with the winner of each match decided by a best-of-six board scoring system.

Each team will play 10 games with black and white pieces. Teams will play five matches, with the six players from each team initially playing with white or black pieces against their opponents, followed by a reverse round in which the entire team will play five matches with reverse-colored pieces against the same opponent.

The winning team of each match will be determined by adding points from wins and draws in the six matches played in the match. The top two teams will advance to the final round.