Monrovia — The Liberia Chess Federation (LCF) has announced plans to provide annual financial and material support to its member clubs.

This decision follows the government's approval of a $5,000 allocation for 2025, a significant increase from the $1,230 initially proposed in the 2024 national budget.

During a meeting at the federation's headquarters in Sinkor, LCF officials approved a proposal to allocate 10% of the annual government subsidy to support fully compliant, dues-paying, and affiliated clubs.

This means that member clubs that meet the necessary requirements will receive a share of the government funding.

In addition to the financial support, the LCF has introduced a player transfer system. Transfer fees will now be required for players moving between clubs.

The fees will be negotiated between the player, their manager, and the acquiring club, with 70% of the amount going to the departing club and 30% allocated to the LCF.

LCF President Thomas Karyah emphasized the importance of increasing financial support for the federation, noting that while the LCF receives an annual €5,000 subsidy from the World Chess Federation (FIDE) and government allocations, these funds are not sufficient to meet operational needs.

He urged for more investment in chess to support its role in developing young minds and contributing to national growth.