Norway Chess announced it has completed a $10 million share issue on April 13. Norwegian Olympic skier Johannes Hosflot Klaebo invests alongside several business figures.

Johannes became the second professional athlete to invest in Norway Chess. The investment will be used to develop and support the Total Chess World Championship Tour. Arctic Securities acted as financial adviser and placement agent for the capital raise. The transaction values Norway Chess at $35 million. The list of new investors in Norway Chess includes:

• Ugland Sandvik AS (Knut Ugland & Svein Sandvik)
• Sanden AS (Jan Petter Collier and family)
• Auctus AS (Hans Oivind Nordvik and family)
• Altitude Capital (Grunde Eriksen)
• Carucel Finance (Carl Erik Krefting and family)
• Bjorn Maaseide
• Johannes Hosflot Klaebo
• Thor Hushovd
• Petter Bakken

The Total Chess World Championship Tour is a new series created by Norway Chess and approved by FIDE combining Fast Classic, Rapid, and Blitz disciplines. The Tour aims to crown a unified World Combined Champion across all time controls. The 2026 pilot tournament will take place from 10–24 November 2026.

Credit: Norway Chess