News

Warren Buffett’s billion-dollar bracket challenge

Warren Buffett’s billion-dollar bracket challenge

BRACKET BUSTER: The odds are nearly impossible, but business tycoon Warren Buffett says if someone can correctly pick a perfect March Madness bracket, he'll pay big bucks. Photo: Associated Press/Nati Harnik

The odds say it’s practically impossible, so what’s a perfect NCAA March Madness bracket worth? To billionaire business tycoon Warren Buffett, it’s worth $1 billion.

Forget your office pool and start brushing up on America’s top men’s college basketball teams, because the contest is open to anyone.

Buffett’s company, Berkshire Hathaway, has teamed up with Dan Gilbert, the owner of the Cleveland Cavaliers and Quicken Loans, to offer the bracket incentive. If there’s a winner – and that’s a big “if” – Buffett says it will be paid out in 25 annual installments of about $25 million.

“While there is no simple path to success, it sure doesn’t get much easier than filling out a bracket onlie,” Buffett said in a news release. “To quote a commercial from one of my companies, I’d dare say it’s so easy to enter that even a caveman can do it.”

If your bracket gets busted but is still “near perfect,” you might be eligible for one of 20 runner up prizes of $100,000 each, but those prizes have to be used toward buying or remodeling a home.

Organizers say more details on how to enter will be released closer to the start of the NCAA tournament, which tips off with Selection Sunday on March 16.

Updates can be found on the Quicken Loans facebook page and by following the Twitter hashtag #billionbracket.

Recent Headlines

in Sports

This week’s top sports shots

royals

A look at some of this week's best moments in sports.

in Sports

This weekend’s sports schedule

worldseries

A complete look at this weekend's sports schedule.

in National

Making headlines this week

AP977488553978

A look at some of this week's biggest newsmakers.

in National

Student opens fire in high school north of Seattle

People embrace in front of school busses at a church, Friday, Oct. 24, 2014, where students were taken to be reunited with parents following a shooting at Marysville Pilchuck High School in Marysville, Wash.

A student opened fire at his Washington state high school on Friday, killing one person, and wounding at least four others.

in National

Evenflo recalls infant seats to fix sticky buckles

evenflo

More than 200,000 rear-facing car seats are being recalled.