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

“No formal bids have come in, but we are in intensive talks with several countries, with Singapore and India at the most advanced stage. I am likely to get more than one formal bid,” FIDE CEO GM Emil Sutowski told IANS.

Last month, All India Chess Federation (AICF) president Nitin Narang had told IANS that the federation was assessing the possibility of hosting the World Chess Title match in India.

According to FIDE, a 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 is tied after 14 games, the winner is decided by tiebreak. This is done through games.FIDE recently invited bids from interested parties to host the World Chess Championship match, tentatively scheduled between November 20 and December 15, 2024.

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

Other details are:

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

b) The regulations will be approved by July 1, 2024.

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

d) Minimum Prize Money – $25,00,000

e) FIDE Fee – $11,00,000

f) Payment for commercial, sponsorship and broadcast rights will be specified as per the bidders' proposals.

g) The Organizer will respect the rights of FIDE sponsors and partners, including video broadcasts.

Interestingly, Gukesh is now ranked sixth in the open category, while Liren Ai is ranked seventh."I believe Gukesh will be a slight favorite against Ding Liren. The world champion is a very good player. However, she is not very active and her form is not at its peak," GM Susan Polgar Former women's world champion (1996-99) told IANS when asked about the chances of an Indian player becoming a world champion.