I've just read somewhere that entry fee for HB Global Chess Challenge was 400$. There were around 1500 players who paid the ticket and guaranteed prize fund was 500.000$. Are those numbers correct?
I knew that fees are high in the US but this is beyond my understanding. Do organizers expect participators to sponsor most of the prize fund? How can anyone expect that US can produce top players if they have to pay thousands of $$ only to play tourneys, while progressing from 1500 to master level. Not to mention coaching. Does chess becomes privilege of rich people. Look at your top players, most of them came to US as formed IMs and GMs.
In Serbia entry fees range from 5$ for rapid and weekend events (and people usually get a sandwich and refreshment) to 15$ for FIDE rated tournaments (this goes for rating and arbiters). Moreover, every year we get one young GM with population that is only 2% of US.
I hope DG or Michael Goeller have to say something on this subject.