London given option for World Championship 2012

The Executive Board in Halkidiki, Greece gave an option to London to organise the World Chess Championship in 2012. The Organizing Committee requested the option for Olympic Games year in London and they have until February 15th 2010 to exercise the option which must include the offer of a prize fund similar to that for the match between champion GM V. Anand and GM V. Topalov next April. If the option is not exercised then FIDE will open the bidding procedure.