FIDE has entered into a partnership with the German company WR Group Holding GmbH to launch together a new major competition: the World Open Teams Championship 2023. The first tournament is planned to take place in Düsseldorf in May-June 2023, played over three days under rapid time control. It will be open to clubs from all over the world, with the prize fund expected to reach 250,000€ already for the first event.