The Collegiate Chess League has announced global trading and technology firm Susquehanna International Group as its new sponsor ©Chess.com

A tournament that claims to be the largest university chess tournament in the world is set to set expand further after signing a major sponsor.

Chess.com has announced the Susquehanna International Group (SIG), a privately held global trading and technology firm, as the presenting sponsor of the 2023 Collegiate Chess League and the Chess.com College Ambassador Programme, helping to grow the game on campuses across the United States and beyond.

SIG has utilised gaming to help develop its business, including hosting poker tournaments on college campuses along with its annual firmwide tournament for all employees.

"Our gaming culture started with poker, but our employees play many different kinds of strategy games," Jeff Yass, co-founder and managing director of SIG, said.

"Chess is especially popular at SIG, so we’re thrilled to partner with Chess.com to find new ways to connect with strategic gamers."

Top universities from around the world compete in Chess.com's annual Collegiate Chess League tournament.

Last season, the event featured more than 200 teams from 100 universities around the world.

Saint Louis University took the top prize in the spring 2023 season, with victories over Yale, defending champions University of Texas Rio Grande Valley and the University of Missouri.

"The Collegiate Chess League has grown into a huge tournament, and we are expecting this year to be even bigger and better with SIG involved," Chess.com’s chief strategy officer Grant Lee said.

The tournament, due to take place between September 23 and November 19, is played in the fast-paced 5+2 blitz time control and is open to everyone from hobby players and amateurs to titled chess stars.

The winners can earn up to $5,000 (£4,000/€4,700).

More than 100 universities from around the world took part in last year's Collegiate Chess League and this season's winners could win a first prize of $5,000 ©Chess.com
More than 100 universities from around the world took part in last year's Collegiate Chess League and this season's winners could win a first prize of $5,000 ©Chess.com

"The event provides a fun and competitive environment for all levels of players, from novices all the way up to grandmasters, and a valuable opportunity for students to expand their network while representing their school," Lee said.

Previous events have seen, among others, Grandmasters Andrew Tang, Awonder Liang, Benjamin Bok, and Grigoriy Oparin representing their colleges.

Tang, a 23-year-old Princeton graduate and 2023 U.S. Open winner, was a trading intern last summer at SIG and has just started as a full-time quantitative trader at the company's New York City office.