The 500,000 euros on the table in the showdown between holder Ju Wenjun and challenger Aleksandra Goryachkina is the largest prize fund in the nearly 100-year history of the Women’s World Championship.

The International Chess Federation (FIDE) says it is a significant moment for women’s chess, which has long lagged behind the publicity, pay packets and participation of men.

The winner between the grandmasters from China and Russia — which will be determined over 12 game days in Shanghai and Vladivostok — takes home 300,000 euros.

The total purse is a 150-percent hike on the previous women’s championship match, according to FIDE, and the format of the competition has been changed to mirror the World Chess Championship, which is theoretically open to all but has been dominated by men.

“We are trying to increase the prestige of the women’s game and also close the pay gap with the men,” said Nigel Short, once one of the top-ranked players in the world and now FIDE vice president.

“It’s something that we are concerned about and we are trying to do our best to improve the conditions in particular for women’s chess,” the 54-year-old Briton said.

Moves to boost women’s chess came with the election of Arkady Dvorkovich as FIDE president in October 2018. He is a former deputy prime minister of Russia.