For nearly 1,500 years, chess has been played by emperors, grandmasters, world champions and produced some of the greatest sporting rivalries ever witnessed.
It has inspired books, films and documentaries. Governments have funded it, schools have taught it and millions of children across generations have learnt their first opening moves sitting across a wooden board. Yet for all its rich history, one thing remained conspicuously absent. Chess never produced franchise owners.
While football built billion-dollar clubs, cricket perfected the franchise model and even sports such as kabaddi discovered commercially viable league structures, chess largely remained what it had always been, an individual pursuit played across prestigious tournaments governed by federations rather than privately owned sporting businesses.
The world’s greatest players became global icons. The sport itself never became a franchise economy. That is the gap the Global Chess League is attempting to fill.
Launched in 2023 as a joint venture between Tech Mahindra and the International Chess Federation (FIDE), the league was conceived with an ambition that stretched well beyond organising another elite tournament. Its founders believed one of the world’s oldest games could also become one of its newest commercial sports properties.
The idea sounded ambitious. Professional chess had produced world champions for more than a century without ever creating a league model capable of attracting franchise owners, broadcasters and long-term private investment.
There was little precedent to suggest investors would buy teams, brands would sponsor city-based franchises or fans would support clubs rather than individual grandmasters. Three seasons later, those assumptions are beginning to change.
Tech Mahindra estimates the league could generate more than $40 million (around ₹382.7 crore) in cumulative business value during its first five years. Crucially, that projection is not simply annual revenue. It represents the wider commercial ecosystem the league hopes to build across franchise owners, broadcasters, sponsors, players and the league itself.
Six privately owned teams now compete under city identities, some of the biggest names in world chess have signed franchise contracts and the league has begun creating commercial assets that extend well beyond prize money. For investors, the attraction is not simply owning a chess team. It is buying into a sport many believe is approaching its commercial inflection point.
A sport that millions played but few monetised
Unlike many emerging sports, chess never suffered from an awareness problem. Many schools in India have a chessboard tucked away in an activity room.
Millions learn the game’s fundamentals as children. Parents encourage it for its educational value, schools celebrate tournament victories and online platforms have introduced entirely new generations to competitive play. Participation has never been the challenge but commercialisation has.
For decades, professional chess largely revolved around federation events, invitation tournaments and individual sponsorships. Elite players could build successful careers, but the sport itself generated relatively few recurring commercial assets capable of attracting franchise owners or institutional investors.
There were tournaments and champions. There was prestige. What there wasn’t was a league.
That gap eventually became the Global Chess League’s biggest opportunity. Rather than attempting to reinvent chess itself, the league chose to reinvent how audiences experienced it.
“The decision was fairly straightforward,” Prachura PP, Co-owner and CEO of FYERS American Gambits, told financialexpress.com.
“Chess is currently the second fastest-growing sport in India after cricket. India’s recent dominance, producing a world champion in Gukesh, Olympiad gold-winning teams and multiple global titleholders across categories, signals a structural shift.”
For Prachura, the investment was rooted in both emotion and economics. A former international chess player himself, he admits there was always a personal connection with the sport. But sentiment alone was never enough to justify buying into a franchise.
“It was ultimately a business decision backed by data,” he said.
“The growth metrics, rising participation and increasing viewership made a strong case. The credibility brought in by FIDE and the presence of elite global players reinforced the confidence to invest.”
Those conversations were becoming increasingly common among investors.
Chandhok says his franchise arrived at similar conclusions after carrying out extensive due diligence before entering the league.
“We took a very hands-on approach,” Chandhok said.
“I personally attended the league in Dubai, spent time understanding operations and spoke directly with players.”
The financial projections, he says, suggested a familiar trajectory. Like many emerging sports leagues, franchise chess was unlikely to generate immediate profits. Instead, the opportunity lay in patient capital.
“From a commercial standpoint, the projections indicated that this is a long-term play, with break-even expected around year five or six,” Chandhok said.
“The numbers were encouraging, but equally important was the ecosystem—strong leadership, backing from the global governing body and elite player participation—all of which made the opportunity credible.”
The challenge facing the league was never teaching people how to play chess. It was convincing them to watch it.
Traditional tournaments often stretched across several hours, with long periods of silence punctuated by moments of tactical brilliance that casual audiences struggled to appreciate.
The Global Chess League’s answer was not to simplify chess. It was to redesign its presentation. Instead of individual competition, six-player franchises were introduced. Instead of classical formats, rapid chess became the standard.
Every franchise fields an Icon, two Superstar Men, two Superstar Women and one Prodigy, allowing world champions, teenage stars and elite female players to compete within the same team structure.
The league also introduced a scoring system designed specifically for television, awarding four points for victories with the black pieces and three for wins with white, creating strategic decisions that extend beyond individual boards.
The objective was simple. Transform one of the world’s oldest games into appointment viewing.
Building a television sport from a board game
Creating a franchise league was only the first hurdle. The bigger challenge was convincing broadcasters, sponsors and eventually viewers that chess could function as live sports entertainment rather than simply a tournament being televised.
Unlike cricket or football, chess offers little visual action. There are no roaring stadiums, last-minute goals or sixes disappearing into the stands. The drama unfolds almost entirely inside the minds of the players, making it difficult for casual audiences to appreciate without context.
That presented a commercial problem. If fans could not easily follow the action, broadcasters would struggle to retain audiences, sponsors would hesitate to invest and franchises would find it difficult to build recurring commercial value.
The Global Chess League and its broadcast partners concluded that the game itself did not need changing. Its presentation did.
“The format was envisioned to be broadcast-friendly from the start,” League Commissioner Gourav Rakshit told financialexpress.com.
Rapid time controls of 20 minutes with a two-second increment compressed matches into digestible viewing windows without compromising elite-level competition. Six boards are played simultaneously, ensuring there is almost always a decisive moment unfolding somewhere inside the arena.
Players now walk onto the stage under theatrical lighting, representing city franchises rather than themselves. Television graphics explain tactical positions in real time, while highlights packages and production values resemble those of mainstream sports broadcasts rather than traditional chess tournaments.
Even spectators inside the venue became part of the experiment. During Season 3, fans were given headphones that allowed them to listen to expert commentary while watching the games unfold live.
Rather than staring silently at six boards, spectators could follow the strategic battles move by move, making one of the world’s most intellectually demanding sports considerably more accessible.
The objective, organisers insist, was never to simplify chess. It was to make elite chess easier to experience.
That approach reflects a broader shift in sports consumption. Most emerging leagues measure success through ticket sales and packed arenas. Chess operates differently. Its biggest audience already exists online.
“In reality, while it may not be a traditional spectator sport, it is very much a viewership-driven sport, especially in the digital era. Once brands see the data, they’re often surprised by the scale and engagement,” said Prachura.
Those numbers are beginning to validate that strategy. According to official data accessed by financialrxpress.com, the Global Chess League generated an all-media reach of 213 million during its most recent season.
Digital and social media accounted for 161 million of that reach, while league content generated more than 270 million views across platforms. Overall engagement crossed six million interactions, with social media audiences growing by 57%.
India remains the league’s largest market, but the audience footprint is notably international. Besides India, significant audiences came from Croatia, the United States and Bahrain. Within India, Mumbai, Delhi, Chennai and Bengaluru emerged among its strongest urban markets.
League officials estimate that viewership is now split almost evenly between Indian and overseas audiences, an unusual characteristic for a sports property conceived and operated from India.
Those audience metrics have gradually altered how brands view chess. Initially, convincing sponsors proved difficult.
“Many brands weren’t sure about chess as a spectator product,” said Chandhok.
“But once they saw the viewership numbers and engagement levels, perceptions began to shift. There’s now growing curiosity and willingness to explore partnerships.”
Interestingly, the league is attracting advertisers that differ from those traditionally associated with many Indian sports competitions.
Rather than depending primarily on fast-moving consumer goods companies, franchises say interest increasingly comes from technology firms, fintech companies, education businesses and premium consumer brands.
“Chess tends to attract a more premium and intellectually aligned category of sponsors,” Chandhok said. “The audience profile is distinct, which opens up different commercial opportunities.”
That distinction may ultimately prove more valuable than raw audience size. Unlike many sports that primarily chase mass-market demographics, chess appeals strongly to students, professionals, entrepreneurs and technology-focused consumers- segments many advertisers actively seek.
For organisers, that creates the foundation of a business model built not only on reach, but on audience quality.
From grandmasters to franchise assets
Every successful sports league eventually reaches the same commercial milestone. Players stop being viewed solely as athletes and begin resembling business assets.
A marquee striker changes a football club’s valuation. A superstar batter strengthens sponsorship negotiations. One high-profile signing can influence broadcast conversations, merchandise sales and fan engagement.
The Global Chess League is beginning to experience that transition.
When franchise owners gathered in Mumbai for the Season 4 player draft ahead of the Bengaluru edition of the league, they were not merely selecting grandmasters. They were building brands.
The draft itself looked unlike anything traditionally associated with chess.
Bullet chess world champion Nihal Sarin triggered one of the fiercest bidding battles before eventually joining FYERS American Gambits. Defending champions Alpine APL Pipers retained Magnus Carlsen before strengthening their squad with newly crowned Women’s World Cup champion Divya Deshmukh. For the first time in league history, Viswanathan Anand switched franchises to partner Arjun Erigaisi at PBG Alaskan Knights.
Ian Nepomniachtchi, Levon Aronian, Alireza Firouzja, Koneru Humpy and several of the world’s biggest names suddenly became part of a franchise ecosystem rather than simply individual competitors.
To traditional chess followers, they remained grandmasters. To owners, they were long-term commercial investments.
“Star players bring credibility, global attention and fan engagement,” Chandhok says.
“They elevate the league’s profile, attract media coverage and make it easier to onboard sponsors. Their presence directly contributes to both brand value and commercial traction.”
That logic is familiar across every mature sports business. Winning titles matters. So does having athletes capable of opening sponsorship conversations, expanding television audiences and giving fans someone to identify with.
Unlike traditional chess tournaments, where players compete as individuals before moving to their next event, the Global Chess League is trying to create lasting sporting identities.
Players now wear franchise colours. They attend fan events, create digital content, interact with schoolchildren and increasingly become ambassadors for city-based teams instead of travelling competitors.
The ambition is to shift fan loyalty from individuals to franchises.
Supporters may initially tune in for Magnus Carlsen or Viswanathan Anand.
The hope is that, over time, they return because they support Alpine APL Pipers or PBG Alaskan Knights.
That shift, from athlete loyalty to franchise loyalty, has underpinned almost every successful league in modern sport. The commercial model has been designed with the same philosophy.
Each season features a prize pool of $1 million, with the champions receiving $250,000, runners-up $125,000, third place $75,000 and fourth $50,000. Another $50,000 is awarded directly to the winning franchise, while nearly half of the prize pool is distributed through performance bonuses linked to cumulative game points across the tournament.
Prize money, however, is only one part of the business. League revenues flow from sponsorships, broadcast rights, licensing, ticketing and commercial partnerships before being shared with participating franchises through a central revenue pool.
Industry estimates suggest franchises currently receive around 8.75 per cent of central revenues, representing roughly one-third of a team’s topline income, while owners continue building independent sponsorship portfolios around their own brands.
For investors, therefore, the attraction lies less in annual winnings than in long-term appreciation. “As the league scales, brand partnerships and visibility will grow,” Chandhok says.
“Over time, the franchise itself becomes a valuable asset, much like we’ve seen in other successful leagues.”
That thinking mirrors the evolution of the IPL, where franchise valuations eventually eclipsed annual operating revenues. Chess remains years away from that scale.
But owners increasingly believe the underlying economics are beginning to resemble those of many successful leagues during their formative years.
Can chess become India’s next franchise success story?
Every emerging sports league eventually reaches the same crossroads. The novelty wears off. Curiosity alone no longer fills broadcast windows or attracts sponsors. The questions become more demanding.
Can franchises build loyal fan communities? Will broadcasters continue paying for rights? Can investors generate sustainable returns? Will young players begin seeing the league as a career destination rather than simply another tournament?
For the Global Chess League, those questions are only beginning. The league enters its fourth season in Bengaluru this September having already achieved something few thought possible just a few years ago. It has persuaded private investors to buy into franchise chess.
It has convinced some of the world’s biggest names, including Magnus Carlsen, Viswanathan Anand, Ian Nepomniachtchi and Alireza Firouzja, to compete under city identities rather than as individual competitors. It has also demonstrated that chess can exist as a television and digital entertainment product instead of remaining solely an elite competitive pursuit.
League organisers, however, insist their ambition extends well beyond staging another tournament. “GCL is designed to inspire the next generation,” Commissioner Rakshit says.
One example already illustrates that vision. When the league began, Uzbek grandmaster Javokhir Sindarov entered as one of its youngest prodigies. Four seasons later, he returns as an Icon player, occupying the same category as Viswanathan Anand and Magnus Carlsen.
For organisers, that journey represents more than sporting progress. It demonstrates the pathway they hope the league can continue creating.
Young players discover the competition, compete alongside established champions, build personal brands and eventually become the stars capable of attracting the next generation of fans.
That cycle, rather than any single season, is what they believe will ultimately define the league’s success.
India at the centre of world chess
The timing may prove significant. For decades, global chess revolved around Russia and Eastern Europe. Today, the sport’s centre of gravity is steadily shifting.
India has become one of the world’s fastest-rising chess nations, producing world champions, Olympiad winners and one of the deepest pipelines of young grandmasters anywhere. That transformation has altered the commercial conversation.
Instead of merely hosting elite tournaments, India is now attempting to own some of the intellectual property surrounding the sport. The Global Chess League reflects that ambition.
Although its players, audiences and commercial partners are spread across the world, the league itself is an Indian creation.
It is perhaps the first serious attempt to export a franchise model in chess in much the same way the Indian Premier League transformed cricket’s commercial landscape. Whether it ultimately reaches comparable heights remains impossible to predict.
Cricket enjoys television audiences measured in billions. Chess remains a niche by comparison. Its commercial ecosystem is younger, its fan habits are still evolving and its revenues remain significantly smaller than those of cricket, football or Formula One.
The league’s backers recognise those realities. Few expect overnight returns. Most instead describe franchise chess as patient capital, a sport that may still be discovering its commercial ceiling.
More than a board game
Ask Chandhok what still surprises people about chess and his answer comes quickly.
“The biggest misconception is that nobody watches chess,” he says. “The reality is completely different.” He believes chess has finally found the catalyst that other Indian sports found through franchise leagues.
Perhaps that explains why conversations around chess increasingly sound less like discussions about a board game and more like those surrounding a modern sports business.
Media rights. Digital audiences. Technology. Intellectual property. Franchise valuation. Global expansion. These are not terms traditionally associated with a 64-square board. Increasingly, they are becoming central to it.
The Global Chess League still has much to prove. It must continue expanding audiences, convince more broadcasters and sponsors, deepen fan loyalty and demonstrate that franchise ownership in chess can deliver sustainable long-term value.
Those remain significant commercial challenges, with no guaranteed outcome. But one achievement is already difficult to dispute.
For centuries, chess has been regarded as one of the world’s greatest games of intellect. Today, it is increasingly being discussed as a business.
And that may yet prove to be the Global Chess League’s most consequential move.