The Blue and Gold Chess Club was formed in 1983. The name is a direct reference to the colours of the Royal College flag. The club was registered with the Chess Federation of Sri Lanka for the sole purpose of enabling the school’s junior team (Under 15) to take part in the annual Inter-Club Chess Championship. At the time, school chess clubs could become members of the CFSL but each club could field only a single team. Following this initiative by Royal College, other schools also registered clubs to make it possible for multiple teams to take part in the ‘Inter Clubs.’ Indeed, at one point Royal College fielded no less than four teams — Blue and Gold, Stalwarts, Royal Eagles and of course the Royal College Chess Team. Many of these kids developed into strong players and some of them went on to represent Sri Lanka while Muditha Hettigama, one of the earliest member of the Blue and Gold Chess Team, became National Champion in 1994.

‘Blue and Gold’ eventually developed into a club for Old Royalists. Blue and Gold has regularly taken part in the Inter Club tournaments organized by CFSL. Old Royalists enthusiastically play in these events alongside two or three senior players still in school. In fact, apart from a couple of years, Blue and Gold has performed well enough to remain in the Super League. Blue and Gold prides itself as the only old boys’ club fielding teams strictly limited to present and past students of the school and no one else.

Members of the Club have played an important role in supporting the Royal College Chess Club over the past several decades, in particular with regard to Battle of the Kings Chess Championshp, the longest annual inter-school team event organized by a school (1996 to 2024). The Blue and Gold Chess Club organized the Royal Challengers  International Chess Championship in 2008 and in the following year the Ravana Challenge Chess Championship. The latter, in which 12 GMs took part, and remains the strongest tournament held in Sri Lanka so far.