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India has submitted its bid to host the much-anticipated World Chess Championship clash between teen sensation D Gukesh and defending champion Ding Liren of China in November-December this year.
The 17-year-old Gukesh became the youngest ever challenger for the world title by winning the Candidates Tournament last month. He will face Liren between November 20 to December 15 in Chennai if the country gets the hosting rights.
The bid has been submitted by the Tamil Nadu government.
"We have received the bid from India," Chess' global governing body FIDE CEO Emil Sutovsky told PTI.
As of now, FIDE hasn't received any other bids but the deadline to enter the race is May 31. It is learnt that Singapore is expected to compete with India but has not yet officially submitted the bid documents.
"As of now no other country has bid for it but the deadline is till end of this week. Post that we will have a FIDE Council meeting next week. And after that due procedure will be followed and we will decide about the hosting rights," Sutovsky added.
If AICF wins the bid, it will have to shell out close to Rs 71 crore.
The basic criteria outlined by FIDE for a prospective bidder for the 2024 edition is a budget of Rs 8.5 million (Rs 71 crore approx) and a facilitation fee of USD 1.1 million (Rs 9 crore) for the global body.
The duration of the tournament is 25 days and approval of regulations will be completed by July 1.
The total prize money awarded by FIDE would be around USD 2.5 million (Rs 20 crore plus) after the fund was increased from the USD two million (Rs 17 crore) in 2023.
Gukesh's historic achievement at the Candidates has spurred a renewed wave of interest in chess.
The Chennai-based teen, who has been mentored by five-time world champion Viswanathan Anand, bettered Russian legend Garry Kasparov's 40-year-old record to become the youngest Candidates champion.
The Russian great was 20 when he qualified in 1984 to clash with compatriot Anatoly Karpov.
India has hosted the prestigious showpiece in 2000 and 2013.
In the 2000 edition, Viswanathan Anand claimed the first of his five world titles by winning the event played in a tournament format with 100 players. Anand defeated Alexei Shirov in the final.
In 2013, Anand lost to Norwegian challenger Magnus Carlsen.