The 2016 FIDE World Chess Championship is a 12-game match taking place between Norwegian World Champion Magnus Carlsen and his Russian challenger, Sergey Karjakin. They play in the Fulton Market building in the Seaport District of Lower Manhattan, New York, beginning on November 11 and ending on November 30, if tiebreaks are required. The prize fund is at least 1 million euros, with the winner taking 60%, or 55% if the match goes to tiebreaks. The players have 100 minutes for 40 moves, then 50 minutes for 20 moves, then 15 minutes to the end of the game, with a 30-second increment from move 1. The first player to reach 6.5 points is the winner, with a 6-6 tie decided by four 25 minute + 10 second/move rapid games. If still tied, up to five two-game 5+3 blitz matches are played. If still level they play an Armageddon game, where White has 5 minutes to Black's 4, but a draw will make the black player World Champion. Official website: nyc2016.fide.com