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

5 hours ago in Local

Langfelder: Y Block Proposals Going Online, to be Considered in Matter of Months

Generic WTAX

It won’t be at Tuesday night’s Springfield City Council meeting, but it may not be long before aldermen formally consider the proposals submitted for what to do with the former YWCA block downtown near the Governor’s mansion.

6 hours ago in Local

Springfield School Board Approves Administrator Moves

5-2-16 Springfield Public School Board Meeting

The changes include a new principal for Springfield High School.

10 hours ago in Local

Deadline Coming for Constitutional Amendment

tax

Graduated-tax boosters boast bipartisan support

13 hours ago in Local

Springfield Marks Tourism Week

5-2-16 Tourism Week

There are a lot of misconceptions about Springfield these days according to local tourism officials.

13 hours ago in Local

Small Business Week

DCEO

Conn says she is an example of both the good and bad of Illinois