TLDR:
– Magnus Carlsen, Jan Henric Buettner, and Left Lane Capital launch Freestyle Chess
– €10 million in funding raised to establish a new tournament series
The groundbreaking venture Freestyle Chess, founded by Magnus Carlsen and Jan Henric Buettner, has secured €10 million in funding from Left Lane Capital. This investment will be used to create a leading tournament series aiming to revolutionize the world of professional chess. The Freestyle Chess Players Club boasts 25 Super Grand Masters with ELO ratings above 2725. The new event series will feature the world’s best players, handpicked by Carlsen, in a mass-market-oriented format that introduces new strategic elements to the traditional game. The tournaments, to be held in exclusive venues with a touch of luxury, will follow chess960 rules. The prize funding for the tournaments is set to $750,000 for the first three events and $1 million for subsequent tournaments. With a vision to bring more excitement and dynamism to chess, Carlsen and Buettner are creating a new chapter in the history of the game. Left Lane Capital’s CEO, Harley Miller, sees the potential for Freestyle Chess to become a mainstream sporting spectacle akin to Formula 1 or ATP Tennis. The new capital will be utilized to develop Freestyle Chess, organize inaugural Grand Slam tournaments worldwide, enhance the digital experience, hire team members, and expand marketing efforts.
