Former NBA MVP Derrick Rose Launches Vegas Chess Festival

Derrick Rose has founded a high-stakes Las Vegas chess tournament. The New York Knicks point guard and his friends will compete in the Chesstival while in town for this year’s NBA Summer League.

The Chesstival will be held July 7 and 8 at Resorts World. According to a press release, the event will include professional athletes, musicians, and amateur chess players “competing in a high-stakes series chess tournament.”

A purse of $147,500 will be awarded to the top 16 finishers, with the winner receiving $50K, the runner-up $20K, and third and fourth place $10K each.

“The game of chess is something I’ve been passionate about since high school,” Rose, 34, said in the release. “Chess is undeniably competitive and strategic at its core, which are two characteristics I’ve carried throughout my career.”

Rose to the Occasion

Rose was named the NBA Rookie of the Year in 2009 and became the youngest player to win the NBA Most Valuable Player Award in 2011 at age 22. He recently finished his 14th NBA season, having missed 2013’s due to an ACL injury. According to a story in the New York Daily News, Rose listed founding a chess league as one of his post-retirement plans. Two others were vertical farming and buying a library.

Speaking to the media last December about his eventual retirement from basketball, Rose said he wants to “be able to walk away whenever I want to walk away and smile while I’m doing it.”

Registration for Rose’s tournament is available for $7,500 at Chesstival.com. According to the website, the price includes one seat at the tournament plus one for a spectating guest, entry for two to all events, including a Zouk after-party, food and beverages at select events, and a gift bag.