Norwegian Chess Federation votes to reject £4.6m Kindred sponsorship deal
Five-year deal torpedoed following pressure from Norwegian Gambling Authority
Kindred Group’s proposed five-year sponsorship of the Norwegian Chess Federation (NCF) has been rejected by members of the Norwegian Chess Federation Congress at a meeting on Sunday evening.
In total, 132 delegates voted against the five-year NOK10m (£927k) a year deal, while only 44 said yes to the proposed agreement.
NCF president Morten L. Madsen said it had been an “intense and occasionally demanding debate” for the NCF and that the decision would affect its future approach in this area.
Despite effectively ending any chance of sponsorship with the deal, Rolf Sims, public affairs manager Kindred Group commended the NCF board for being “extremely strong through a demanding exchange of opinions” prior to the congressional meeting.
“The same leadership have, through the 11-month process leading to the final deal proposal, impressed us through their inquisitive and responsive approach, and clear and challenging dialogue with us as a potential partner,” Sims added.
Kindred Group has confirmed it will look to target sports associations, volunteer organisations and other associations “not supported by the current monopoly model the possibility of better financing opportunities”.
In June, the Norwegian Gaming Authority wrote a five-page letter to the NCF claiming the operator was operating illegally in the Norwegian market, an assertion which Kindred disputes. The Norwegian Gaming Authority said it would actively monitor all subsequent NCF activities if the proposed sponsorship agreement was ratified.
Undeterred by yesterday’s negative vote, Kindred Group said it would “continue tirelessly” in its drive towards an alternative regulatory framework to the current Norwegian monopoly system.
“Such a model would benefit everyone in a better way than the current monopoly system, where half of all online gamblers fall outside of the purview of the Norwegian government, and where a large part of Norwegian sports, culture and volunteer work are not supported by the gambling funds collected by the Norwegian government,” Sims added.