LAS VEGAS — One of the most popular basketball players ever to come out of Chicago is venturing into another form of competition in 2023.

This week, Englewood native Derrick Rose announced that he’s starting a new chess tournament called “Chesstival” that will be staged in Las Vegas this summer. It will take place July 7 and 8 at Resorts World and will coincide with the NBA’s Summer League stop in the city.

Per the Chesstival website, a total of $147,500 of prize money will be awarded over the two days, with the winner of the event taking $50,000. The entry fee is $7,500.

So why chess?

Rose said it’s an activity that he was first introduced to during seventh grade and began playing during his early days with the Bulls in the NBA. He said that his love for chess grew during his recovery from injuries when he was looking for mentally engaging activities.

“The game of chess is something I’ve been passionate about since high school,” said Rose in a news release. “Chess is undeniably competitive and strategic at its core, which are two characteristics I’ve carried throughout my career. I am thrilled to bring Chesstival to life at Resorts World Las Vegas and continue to grow interest in chess worldwide.”

This comes as the guard is completing his 14th season in the NBA with the New York Knicks, who are currently in a first round playoff series with the Cavaliers. Mostly out of the team’s rotation this season, Rose averaged 5.6 points and 1.7 rebounds in 27 regular season games in 2022-2023.

A star at Simeon High School, where he was named a McDonald’s All-American and Illinois Mr. Basketball in 2007, Rose was the No. 1 overall pick in the 2008 NBA Draft by the Bulls after one season at Memphis.

The NBA’s Rookie of the Year in 2009, the guard would then make three-straight All-Star appearances as he along with the Bulls rose to the top of the NBA. In the 2010-2011 season, Rose was named the league’s MVP as the team advanced to the Eastern Conference Finals for the first time since 1998.

Injuries would hurt the guard over his final years with the Bulls and he was eventually traded to the Knicks after the 2015-2016 season. Since then he’s played for New York, Cleveland, Minnesota, Detroit, and then back to the Knicks in February 2021.