FIDE account closed
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FIDE account closed
As you may or may not have noticed FIDE is in the news for the wrong reason once again.
http://www.bbc.com/news/world-europe-43053626
http://www.bbc.com/news/world-europe-43053626
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Re: FIDE account closed
With the BBC failing to ask the question why he isn't on the UK sanctions list; there isn't anything to stop FIDE opening a UK bank account
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Re: FIDE account closed
The same story by Leon Watson has appeared in the Telegraph, Times and Sun.MJMcCready wrote: ↑Wed Feb 14, 2018 7:57 amAs you may or may not have noticed FIDE is in the news for the wrong reason once again.
http://www.telegraph.co.uk/news/2018/02 ... t-accused/
https://www.thetimes.co.uk/article/ches ... -0vs8qg2z0
https://www.thesun.co.uk/news/5573341/w ... ding-isis/
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Re: FIDE account closed
This can hardly come as a surprise, since the Treasurer made clear in Baku that he awaited this decision on a daily basis. However, readingRoger de Coverly wrote: ↑Wed Feb 14, 2018 9:53 amThe same story by Leon Watson has appeared in the Telegraph, Times and Sun.
"Fide, the Lausanne-based federation which runs the game, disclosed on Tuesday that Swiss bank UBS closed its accounts after finally losing patience with its failure to depose Russian millionaire Kirsan Ilyumzhinov."
This is not a simple process - see http://www.fide.com/fide/handbook.html? ... ew=article. All of his connections with FIDE finances and management were severed some time ago, but actual removal from office is long-winded and expensive. Hence the widespread relief when he announced his resignation, and the disappointment when he subsequently retracted it. I'm guessing the hope was that this issue could be deferred for another six months, at which point it will disappear.
The apparent insinuation that players in the Candidates may not get paid is presumably just an attempt to stir the pot. This money comes from Agon, so the biggest problem there may be that when FIDE gets its 20% there may be no bank account into which to pay it.
If you want a picture of the future, imagine a QR code stamped on a human face — forever.
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Re: FIDE account closed
On the premise that Kirsan is the only announced candidate for the 2018 election of FIDE president, it's going to run and run.NickFaulks wrote: ↑Wed Feb 14, 2018 11:32 amI'm guessing the hope was that this issue could be deferred for another six months, at which point it will disappear.
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Re: FIDE account closed
I'm always open to a friendly bet on such matters. You should see another candidate soon, and that will be the end of that.Roger de Coverly wrote: ↑Wed Feb 14, 2018 11:53 amOn the premise that Kirsan is the only announced candidate for the 2018 election of FIDE president, it's going to run and run.
If you want a picture of the future, imagine a QR code stamped on a human face — forever.
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Re: FIDE account closed
Possibly naive question. Is it known if the account has been closed and the money contained within it is lost forever to FIDE, or will that be accessible to FIDE once Kirsan is no longer President?NickFaulks wrote: ↑Wed Feb 14, 2018 11:32 amThe apparent insinuation that players in the Candidates may not get paid is presumably just an attempt to stir the pot. This money comes from Agon, so the biggest problem there may be that when FIDE gets its 20% there may be no bank account into which to pay it.
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Re: FIDE account closed
You might hope that IF FIDE can open another bank account sharpish, that the existing money will be transferred. UBS are closing the account, that doesn't or shouldn't give them the power to confiscate the money.Alex Holowczak wrote: ↑Wed Feb 14, 2018 2:04 pmIs it known if the account has been closed and the money contained within it is lost forever to FIDE, or will that be accessible to FIDE once Kirsan is no longer President?
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Re: FIDE account closed
Have you tried opening a UK bank account as a non-UK person/entity recently? It is not easy.Mick Norris wrote: ↑Wed Feb 14, 2018 8:11 amthere isn't anything to stop FIDE opening a UK bank account
Anyway, do we know how much is frozen, and whether FIDE has other working bank accounts?
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Re: FIDE account closed
Actually given that the closure threat was made several months ago, a prudent organisation might already have set up some additional accounts.Simon Brown wrote: ↑Wed Feb 14, 2018 2:12 pmAnyway, do we know how much is frozen, and whether FIDE has other working bank accounts?
There appears to be a faction in FIDE senior management that would like Kirsan to stand down. If not immediately then at the completion of his term of office later this year. Instead of which he's travelling the world attempting to gather support for his re-election in the same manner as for the last twelve or sixteen years.
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Re: FIDE account closed
I opened an account for my then 11 year old daughter, and an account for my new limited company last year; neither was easySimon Brown wrote: ↑Wed Feb 14, 2018 2:12 pmHave you tried opening a UK bank account as a non-UK person/entity recently? It is not easy.Mick Norris wrote: ↑Wed Feb 14, 2018 8:11 amthere isn't anything to stop FIDE opening a UK bank account
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Re: FIDE account closed
I'm sure it is safe to assume that not a cent has been or will be lost.Alex Holowczak wrote: ↑Wed Feb 14, 2018 2:04 pmPossibly naive question. Is it known if the account has been closed and the money contained within it is lost forever to FIDE, or will that be accessible to FIDE once Kirsan is no longer President?
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Re: FIDE account closed
How will the world championship be paid for later in the year?
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Re: FIDE account closed
FIDE sold the rights to Agon, so they will or should be paying. The same next month with the Candidates. Anyway FIDE are hoping to get new bank accounts in the near future, although it remains to be seen whether they will be able to do so with Kirsan showing every attempt to be re-elected later this year. The line that he's not really President lacks credibility.MJMcCready wrote: ↑Wed Feb 14, 2018 4:25 pmHow will the world championship be paid for later in the year?
http://kirsan.today/en/reporting/item/2 ... visit.html
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Re: FIDE account closed
Why do so few of the top players say nothing publicly about all this. If they refused on participate, wouldn't that be enough to remove him or do they just think about the money.