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.

Latest Headlines

in Local

Officials: Maine Paper Mill Closing; 570 Jobs Lost

Newsradio WGAN

Verso officials say they're closing the company's Bucksport mill, putting more than 500 people out of work.

in Local

Maine Panel Approves 2014-15 Scallop Rules

GENERIC SCALLOP LARGE

PORTLAND, Maine (AP) _ A key Maine advisory council is approving the rules for the state's forthcoming scallop fishing season.

in Local

Oxford Woman Gets 18 Months for Fatal Crash

GENERIC COURT LARGE

PARIS, Maine (AP) _ A Maine woman convicted of manslaughter for being behind the wheel during a crash that killed two of her passengers has been ordered to serve 18 months in prison.

in Local

Maine Clerks Prepare for Onslaught of Ballots

GENERIC VOTE

PORTLAND, Maine (AP) _ Maine's town clerks are preparing for an onslaught of absentee ballots, and the failure of an early voting proposal in the Legislature means there's little hope for relief anytime soon.

in Local

First Maine Child Tests Positive for Enterovirus

HOSPITAL SCENE-LARGE

A Maine child has tested positive for a respiratory virus that has been affecting children across the country.