Tamil Nadu Chief Minister J Jayalalitha today granted Rs 29 crore for conducting the World Championship after an MOU was signed between All India Chess Federation and FIDE.
AICF secretary Bharat Singh Chauhan and FIDE vice-presidents Israel Gelfer and D V Sundar were present when the MOU was signed.
World Champion Viswanathan Anand and Norway's Magnus Carlsson would be playing the championship in November this year.
Also present on the occasion was Tamil Nadu Chess Assocition(TNCA) secretary Hariharan.
"It will be a fascinating contest and the best world championship match conducted anywhere else before," Gelfer said.
He said the arbiters for the match would be decided in a month's time.
"The event to be held in Chennai would surpass the expectations of all concerned and be the best ever event so far."
Gelfer said that he had inspected various venues for the match and had examined the Trade Centre and a few five-star hotels in the city.
"We will chose the best venue which will be to the liking of not just the two players involved but also the international media, which will be turning up for the match and others involved on both sides."
Gelfer clarified that once FIDE announces the venue officially, no player would be allowed to refuse the venue.
