The billion dollar bracket - WSFX - FOX Wilmington, NC

The billion dollar bracket

Posted: Updated:

DETROIT (AP) - Correctly predicting the outcome of every game in the NCAA men's basketball tournament is no layup. There's now a $1 billion prize waiting for anyone able to pull off the feat this spring.

Quicken Loans Inc. announced Tuesday that it will team with investor Warren Buffett's Omaha, Neb.-based Berkshire Hathaway on the "Billion Dollar Bracket Challenge."

The Detroit-based mortgage lender says any qualified entrant who correctly predicts the winners of every game in the tournament will be paid in 40 annual installments of $25 million. A winner also can elect to receive an immediate $500 million lump-sum payment or share in that payment if there's more than one perfect bracket submitted.

Submissions are limited to one per household.

(Copyright 2014 The Associated Press. All rights reserved.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WSFX. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.
FCC Public File
Email: publicfile@wsfx.com
Phone: (910) 791-8070
EEO Report
Closed Captioning