India, Jan. 29 -- In the ongoing power struggle between Magnus Carlsen-backed Freestyle Chess and world chess governing body, Fide, Freestyle Chess promoter and German entrepreneur Jan Buettner has in an open letter alleged that Fide's objections to it are fuelled by monetary interests and that the body doesn't hold exclusive authority over the word, "world".

A primary bone of contention has been the usage of the term 'World Championship' for Freestyle events. Fide has stayed firm on its stance of holding exclusive rights over running 'World Championships in chess. "Let me clarify once again that our tour is not a 'World Championship' in the traditional sense.. It is titled 'Freestyle Grand Slam Chess Tour'. At the end of each year, we c...