Millionaire Chess is also the name of the company, so, the name still kind of fits.
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I don't understand well, now the prize has changed from 1 million dollar to 510K with only 60% guaranteed. Shouldn't the tournament change the name? Because it became a tournament for 300thousand dollars, not a million.
Then of course, also the entry fee changed, which makes sense, now is only 500$.
It is depressing that for sports like football there are billion dollars, while for chess they cannot keep an great event like the Millionaire alive for 3 years.