There was a record number of entries, with twenty-seven teams taking part. This compared with the nineteen nations participating at the previous Olympiad; the substantial increase being mostly due to the interest shown by other Central and South American nations, including Cuba, led by former World ChampionJosé Raúl Capablanca on the top board. Due to certain political events, prominent Austrian players Erich Eliskases and Albert Becker were playing under the German flag and official sources referred to the Czechoslovak team as 'Bohemia & Moravia'. Two of the teams that did not compete were those that finished first and second at Stockholm, namely the United States and Hungary. Indeed, some nations found the cost of sending a team such a distance for a lengthy period prohibitively expensive. Following the Preliminaries, the teams were split into Final Group A or Final Group B, with the former contesting the Hamilton-Russell Cup and the latter playing for the 'Copa Argentina', a consolation trophy presented by the Argentine President.
Preliminaries
The preliminaries were played from August 21–31, 1939. There were three groups of 7 teams and a group of 6. From a round-robin format, the top four in each group then went forward to Final A, the remainder to Final B. Group winners were Bohemia & Moravia, Latvia, Argentina and Sweden.
Finals
The finals commenced on September 1, the very date of the outbreak of World War II. This led to much confusion amongst the European teams, although most players wanted to continue. The England team, despite having qualified for Final A, were the only team to return home immediately and their place was not filled. Three of five English representatives: Conel Hugh O'Donel Alexander, Stuart Milner-Barry, and Harry Golombek were soon recruited into Bletchley Park, the British codebreaking centre during World War II. Concerning the remaining delegations, a crisis assembly was called to vote on how to proceed; this comprised team captains, the hosts and organisers. Leading roles were reportedly taken by World Champion Alexander Alekhine, Savielly Tartakower, Albert Becker and the president of the Argentine Chess Federation, Augusto de Muro. The verdict was to continue with the Olympiad. The political ramifications continued, however, when it became apparent that six of the scheduled finals matches could not be played due to tensions aroused by the war. After considerable deliberation and negotiation, a total of six matches were declared drawn 2–2 by mutual forfeit and this allowed the remainder of the competition to be played out to a conclusion.