FIDE Needs a Business Model, Not a Benefactor
By Robby B. · Sat, 12 Sep 2026
FIDE should build a sustainable financial model instead of depending on Timur Turlov or his company to serve as its financial safety net.
In a the recent FIDE Presidential debate, Timur Turlov presented his financial strength as one of the reasons he can help FIDE. But the next president of world chess should be trying to make FIDE less dependent on powerful individuals, not offering to become its financial safety net.During the recent FIDE presidential debate, Turlov described himself as FIDE's “main financial backstop” in recent years through Freedom Holding Corp. He argued that while FIDE should eventually become financially sustainable, sometimes somebody has to provide real money today so the organization can plan and invest.That sounds reassuring. It should also make national federations uncomfortable.FIDE is not a private company. It is the governing body of international chess, representing federations around the world. Its financial security should come from diversified sponsorships, commercial rights, events, partnerships and predictable institutional revenue, not from knowing that the president or a company closely associated with him can step in when money is short.This matters because FIDE does have a real financial weakness. Its own Verification Commission reported that general sponsorship and donation revenue fell dramatically: FIDE budgeted €3 million from that category in 2024 but actually received only €166,000. The commission warned against budgeting large sponsorship revenues without clearly identified sources.The answer to that problem should be a stronger financial model.Instead, Turlov's proposed “backstop” risks solving an institutional weakness with personal financial power. And the relationship is already substantial: Freedom Holding Corp., the company Turlov leads, became an official FIDE partner for chess development programs in 2026.None of this means Turlov's support for chess is unwelcome. Quite the opposite. Sponsors willing to invest seriously in chess are valuable.But a sponsor and a president serve different purposes.Even Turlov says that he ultimately wants FIDE to become sustainable and not dependent on him. That should be the starting point, not the eventual destination.A healthy international federation should survive a change of president without wondering who will replace the departing president's money.FIDE does not need a richer patron. It needs a stronger institution.