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who wants to be a billionaire, so flipping bad...
Over the last 2 weeks, our team at Millionaire Chess has been ironing out the details for the 2nd Millionaire Chess Open to be held in October 2015. This process, while difficult, has been incredibly rewarding, and we cannot wait to execute our plans for the future. A constant theme in all of our decisions has been incredible feedback we received about our first tournament. We are beyond grateful to those of you who have shown the passion and commitment to our vision. We are indebted to everyone who has taken the time to commend us for going the extra mile and to others who have pointed out areas for improvement. We look forward to your continued support, criticism, excitement and eagerness to play at the 2nd Millionaire Chess Open.
Yawn. It's been done.
But obviously it's going to take a second pass, this one with about half the entrants as the last one, to convince these two airheads to find somewhere else to park their cash.
But they plan on gettng sponsors to cover the prize fund so they can make money....
For what it's worth, North American Open December 26-30 has only 282 players now and may have lost entries to MC in October. Bt then again there isn't a 50% increase in entry fee so they may still get the 600 they need to pay 100% of the prizes. I'm in this one, must support the CCA and their track record.
two airheads to find somewhere else to park their cash.
they are fairly accomplished, hard-working (this is an understatement), pleasant and intelligent people and maurice is a very good chess player. i played him at mc and i and many who attended last year will be back for next year's edition. idk what the rate of return for chess players playing in events, but they will have a higher than normal retention of players, they ran an outstanding event. i understand the detractors' points but i support positive initiatives in chess, events with good conditions, etc. whats worth having is worth paying and working for.
In an article I read after the event, I believe they "lost" money. Maybe that means the sponsors lost. I'm not sure who paid for what. Anyway next time they will probably make out better. Once people see the prize money handed out they are more likely to play next time. I don't think cash prizes send the wrong message--most sports and games offer prizes. The bigger the better!
Common sense and basic maths says that they lost a shedload of money, I'd estimate somewhere in the $1,000,000 region. I didn't once hear a sponsors name mentioned when I followed the event online so any sponsors they might have had couldn't have contributed more than a few peanuts.
From Amy Lee's website:
"Instead of rushing to do MC#2 in Orlando, we decided to focus on launching the global satellite program as we see higher value in that since it will be a great way to go global like I had always wanted to."
Does anyone know the details of the global satellite program?
My guess - they want to license the name out to other tournaments while someone else takes the financial risk.
Airheads? What ahve you accomplished in life other than being an ass on chess.com?
This is the typical number they have at this point. 288 as of this morning and usually they only have 250-300 as of Thanksgiving. They are right on schedule/target to hit 700+ as they usually do as each year 50% of their entries are during the last week prior to the event.
Thanks, I played in one NA Open in 1993, but I was playing in CCA events back to 1973. Just a thought, with all the events CCA runs each year, they certainly must pay out more than a million dollars in prizes annually, and they turn a profit. I once heard many of their events lose money, but they more than make up for it at the World Open. So which is the real Millionaire chess organization?
From what I have read, the players who did play in MC had a great time and it would be wonderful if every chess event matched the MC experience. However, since MC lost about $800,000, common sense indicates its days are numbered. I remain skeptical they will attract sponsors to foot the prize fund and allow them to make the intended hefty profit.
I repeat my suggestion from above. Amy Lee should buy out CCA and pay out more than a million in prizes as I feel confident CCA does. Then she meets her business investment expectations. She doesn't need Maurice, just some competent tournament directors and such.
"NEXT SHOW: Qatar Masters Open 2014! Hosts GM Danny King & GM Simon Williams - Weds 26 Nov, 4am PST, 12pm GMT, 5:30pm Mumbai"
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