A group of Argentinian businessmen, backed by a guarantee from the president of Argentina, promised the funds for a World Championship match between Capablanca and Alekhine in 1927. Since Nimzowitsch had challenged before Alekhine, Capablanca gave Nimzowitsch until 1 January 1927, to provide a deposit in order to arrange a match. When this did not materialize, a Capablanca–Alekhine match was agreed, to begin in September 1927.