Welcome to the world of chess, where competition is fierce and players like Hikaru Nakamura are eyeing the success of India’s young talents—D Gukesh, R Praggnanandhaa, and Arjun Erigaisi. These three, often referred to as the ‘Big 3,’ are not just making headlines for their skills but also for how quickly they’ve found sponsorship opportunities.
Nakamura recently expressed his feelings about the support these young players receive. “When I was climbing the ranks in the USA, I didn’t have the same sponsorships they’re getting now. For me, it was about maintaining my ranking while making a living,” he shared. This reveals a significant shift in how chess can be a financially viable career today compared to previous years.
The financial success of the Big 3 is impressive. In 2024, Gukesh earned over $1.5 million from prize money alone. His fellow competitors, Praggnanandhaa and Erigaisi, also enjoyed substantial earnings—about $200,000 and $120,000 respectively. Their success showcases a new era in chess where sponsorship and prize earnings can support players financially.
However, this prosperity isn’t universal in the chess world. Outside of a few privileged grandmasters, many players struggle to secure sponsorships. For every successful player like Arjun, there are many talented individuals like Koneru Humpy and Leon Luke Mendonca who are still searching for private backing.
Additionally, the overall prize money in chess tournaments can be modest. For instance, while Gukesh’s World Championship win of Rs 11 crore is remarkable, many FIDE events yield much less. In comparison, tennis players can earn a lot more just for participating in large tournaments. Even in the World Blitz Championship, players securing spots in the top 30 might find that their travel and accommodation costs outweigh their earnings.
Situated in a complex landscape, the journey of grandmasters involves significant expenses. Many tournaments require players to finance their own travel, lodging, and meals. While online tournaments have opened new opportunities, many top players still rely on in-person events to build their skills and ratings. A strong performance can lead to more opportunities and potentially better financial support from sponsors.
Competition for invitations to prestigious chess tournaments is tough. Not every talented player gets their shot, making it crucial for them to stand out. This can lead to scenarios where some grandmasters have to participate in lower-tier events just to secure a place to compete.
The costs associated with competing can be overwhelming. Many players incur heavy expenses for accommodation and travel, sometimes spending upwards of Rs 2 lakh per tournament. Young talents like Vantika Agrawal, who strive to make a mark, speak of the financial strain they face. For instance, she once spent Rs 1.5 lakh just to compete in a tournament but couldn’t recover her costs due to an unfortunate incident during the event.
As one parent of an Indian grandmaster noted, supporting an aspiring chess player can cost between Rs 10-15 lakh annually, especially in the absence of sponsorships. This financial burden can be daunting and often leads families to drain their savings to support their child’s passion for chess.
Coaching fees further add to these expenses, with top trainers charging as much as $500 per hour. Thus, amidst the success stories of the Big 3, there’s a broader reality where many grandmasters struggle to make ends meet while pursuing their love for chess.
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