Published: February 24, 2025
Monrovia—Member clubs of the Liberia Chess Federation (LCF) are set to receive annual financial or material support from the federation, following a key decision reached during a day-long proposal meeting held at its headquarters in Sinkor on Friday, February 21, 2025.
According to the approved proposal, the financial support will amount to 10% of the LCF’s annual subsidy from the Government of Liberia.
Earlier this year, the government approved a US$5,000 allocation for chess operations in 2025, an increase from the US$1,230 initially proposed in the draft national budget for 2024.
“All fully compliant, dues-paying, and affiliated clubs of the LCF shall benefit from financial support amounting to 10% of the subsidy received from the government,” the proposal stated.
Additionally, the federation has mandated that the membership of compliant clubs be duly identified, in accordance with LCF regulations.
The federation has also introduced transfer fees for players switching from one club to another. These fees will be determined through negotiations involving the player, their manager, and the club seeking the transfer.
Seventy percent of the transfer fee will go to the departing club, while the remaining thirty percent will be paid to the LCF.
“Members transferring from one club to another will be subject to transfer fees,” the proposal emphasized.
At the opening of the meeting, LCF President Thomas Karyah called for increased financial support for the federation.
He noted that despite receiving an annual subsidy of EUR 5,000 from the world chess governing body, along with allocations in the national budget for sports development, the funding remains insufficient to effectively run the federation.
With over 15 recognized clubs, Karyah underscored the need for greater investment in chess development, stressing that the game plays a crucial role in fostering young minds and contributing to national development.
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