The fourth leg of this year’s series will be called the “2023 Julius Baer Generation Cup”, with the competition due to take place online between August 30 and September 3 for its $235,000 (£182,000/€212,000) prize pool.

Chess has recently found a growing younger audience due to the game’s transferability into a virtual discipline and featured at last month’s Olympic Esports Week in Singapore.

Earlier this year, the Champion Chess Tour’s Chessable Masters 2023 secured a peak viewership of 114,300, according to Esports Charts.

The Champions Chess Tour also has a partnership with endemic gaming chair brand Secret Lab, as well as deals with Puma and Norwegian air quality company Airthings.

This is the second Julius Baer Generation Cup following its debut last year when Norway’s Magnus Carlsen won.

The world number one heads the entry list for this year’s event and is due to be joined by United States star Wesley So and two up-and-coming youngsters, 18-year-old Uzbek Nodirbek Abdusattorov and 16-year-old Denis Lazavik from Belarus, who qualified after winning Division II at the Aimchess Rapid.

The players will be sorted into three divisions playing in double-elimination rapid chess format.

Julius Baer will also become a title partner of the Julius Baer Women’s Speed Chess Championship.

"The Julius Baer Generation Cup is an important testament to our commitment and support of the Champions Chess Tour," Antje Hembd, head of global sponsoring and partnership at Julius Baer, said.

"In its second year, the JB Generation Cup again highlights the incredible inclusivity the game can promote and inspires a new generation of aspiring champions.

"In addition, we are looking forward to support[ing] the ‘The Women’s Speed Chess’ Championship to empower women and create a more equitable, diverse and exciting chess landscape."