World Chess Championship 1894 - Buildup

Buildup

Reigning World Champion Steinitz publicly spoke of retiring, but changed his mind when Emanuel Lasker challenged him. Initially Lasker wanted to play for $5,000 a side and a match was agreed at stakes of $3,000 a side, but Steinitz agreed to a series of reductions when Lasker found it difficult to raise the money, and the final figure was $2,000 each, which was less than for some of Steinitz's earlier matches (the final combined stake of $4,000 would be worth about $495,500 at 2007 values). Although this was publicly praised as an act of sportsmanship on Steinitz's part, Steinitz may have desperately needed the money.

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