FIDE account closed

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MJMcCready
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FIDE account closed

Post by MJMcCready » Wed Feb 14, 2018 7:57 am

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

Mick Norris
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Re: FIDE account closed

Post by Mick Norris » Wed Feb 14, 2018 8:11 am

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
Any postings on here represent my personal views and should not be taken as representative of the Manchester Chess Federation www.manchesterchess.co.uk

Roger de Coverly
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Re: FIDE account closed

Post by Roger de Coverly » Wed Feb 14, 2018 9:53 am

MJMcCready wrote:
Wed Feb 14, 2018 7:57 am
As you may or may not have noticed FIDE is in the news for the wrong reason once again.
The same story by Leon Watson has appeared in the Telegraph, Times and Sun.

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/

NickFaulks
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Re: FIDE account closed

Post by NickFaulks » Wed Feb 14, 2018 11:32 am

Roger de Coverly wrote:
Wed Feb 14, 2018 9:53 am
The same story by Leon Watson has appeared in the Telegraph, Times and Sun.
This can hardly come as a surprise, since the Treasurer made clear in Baku that he awaited this decision on a daily basis. However, reading

"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.

Roger de Coverly
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Re: FIDE account closed

Post by Roger de Coverly » Wed Feb 14, 2018 11:53 am

NickFaulks wrote:
Wed Feb 14, 2018 11:32 am
I'm guessing the hope was that this issue could be deferred for another six months, at which point it will disappear.
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
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Re: FIDE account closed

Post by NickFaulks » Wed Feb 14, 2018 1:54 pm

Roger de Coverly wrote:
Wed Feb 14, 2018 11:53 am
On the premise that Kirsan is the only announced candidate for the 2018 election of FIDE president, it's going to run and run.
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.

Alex Holowczak
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Re: FIDE account closed

Post by Alex Holowczak » Wed Feb 14, 2018 2:04 pm

NickFaulks wrote:
Wed Feb 14, 2018 11:32 am
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.
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?

Roger de Coverly
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Re: FIDE account closed

Post by Roger de Coverly » Wed Feb 14, 2018 2:11 pm

Alex Holowczak wrote:
Wed Feb 14, 2018 2:04 pm
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?
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.

Simon Brown
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Re: FIDE account closed

Post by Simon Brown » Wed Feb 14, 2018 2:12 pm

Mick Norris wrote:
Wed Feb 14, 2018 8:11 am
there isn't anything to stop FIDE opening a UK bank account
Have you tried opening a UK bank account as a non-UK person/entity recently? It is not easy.

Anyway, do we know how much is frozen, and whether FIDE has other working bank accounts?

Roger de Coverly
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Re: FIDE account closed

Post by Roger de Coverly » Wed Feb 14, 2018 2:25 pm

Simon Brown wrote:
Wed Feb 14, 2018 2:12 pm
Anyway, do we know how much is frozen, and whether FIDE has other working bank accounts?
Actually given that the closure threat was made several months ago, a prudent organisation might already have set up some additional 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.

Mick Norris
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Re: FIDE account closed

Post by Mick Norris » Wed Feb 14, 2018 2:39 pm

Simon Brown wrote:
Wed Feb 14, 2018 2:12 pm
Mick Norris wrote:
Wed Feb 14, 2018 8:11 am
there isn't anything to stop FIDE opening a UK bank account
Have you tried opening a UK bank account as a non-UK person/entity recently? It is not easy.
I opened an account for my then 11 year old daughter, and an account for my new limited company last year; neither was easy :lol:
Any postings on here represent my personal views and should not be taken as representative of the Manchester Chess Federation www.manchesterchess.co.uk

NickFaulks
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Re: FIDE account closed

Post by NickFaulks » Wed Feb 14, 2018 4:11 pm

Alex Holowczak wrote:
Wed Feb 14, 2018 2:04 pm
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?
I'm sure it is safe to assume that not a cent has been or will be lost.

MJMcCready
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Re: FIDE account closed

Post by MJMcCready » Wed Feb 14, 2018 4:25 pm

How will the world championship be paid for later in the year?

Roger de Coverly
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Re: FIDE account closed

Post by Roger de Coverly » Wed Feb 14, 2018 4:31 pm

MJMcCready wrote:
Wed Feb 14, 2018 4:25 pm
How will the world championship be paid for later in the year?
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.

http://kirsan.today/en/reporting/item/2 ... visit.html

MJMcCready
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Re: FIDE account closed

Post by MJMcCready » Wed Feb 14, 2018 4:54 pm

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.

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