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Warren Buffett’s Berkshire Hathaway and Quicken Loans are teaming together to pay out $1 billion for a perfect 2014 NCAA basketball tournament bracket in the "Billion Dollar Bracket Challenge." Contestants can make their bracket picks March 16-19.
Winners can choose to receive either 40 annual payments of $25 million or one lump sum payment of $500 million immediately. Entry for the challenge is free.
But don’t go spending all that money just yet. According to the Associated Press, neither ESPN nor CBS Sports have ever had a perfect entry in years of sponsoring the challenge. Picking all the games correctly seems near impossible considering there are more than nine quintillion ways to fill out the 64-team bracket.
If, by miracle, there is a contestant left standing for the last round of play, Buffett will watch the game with them. According to CNN Money, Buffett joked, "I will invite him or her to be my guest at the final game and be there with a check in my pocket, but I will not be cheering for him or her to win."
Image: Wikimedia Commons