for a $4,000 top prize when Bermuda plays host to the $15,000 Grandmaster Chess Tournament early next year.

The January 23-February 1 event will be the first of its kind to be held in Bermuda.

Confirmed participants include American Nick DeFirmian, Alexander Ivanov, a Russian now living in the United states and Englishman David Norwood. The tournament will take place at Mermaid Beach Club in Warwick.

DeFirmian is a strong master with a reputation for exciting games, while Ivanov is well known among local chess circles and is the reigning Bermuda International Open champion.

Similarly, Norwood is a regular visitor to these shores and considered an exceptionally strong amateur player.

Among the International Masters, Maurice Ashley presents a formidable challenger. He is the top black player in the United States and operates a successful chess education programme.

Others participants include Giovanni Vescovi, a member of the Brazilian national team and leading contender in the recent World Under-18 championships, American Josh Waitzkin and Sophia Polgar of Hungary.

The tournament will follow a round robin format, with each participant playing nine matches.

In addition, the International Masters have the opportunity to achieve a Grandmaster norm -- a tournament result of a high standard. For this event a norm will be six points from nine games. Three norms are typically required to achieve Grandmaster status.

All players will be guaranteed a cash reward of at least $500.

Meanwhile, taking place alongside the Grandmaster competition will be an Invitational Rating Chess tournament, also encompassing nine rounds of matches.

Two or three Grandmasters or International Masters will be included among the field as well as several FIDE Masters. Local players who perform sufficiently well in the upcoming Olympiad may also be invited to take part.

The tournament is designed to give participants an opportunity to improve their rating, but it is hoped that the event will be strong enough to offer an International Master norm as well.

On offer will be $2,000, with a $1,000 first prize, while Grandmasters and International Masters will be paid appearance fees of $500.