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$1 Billion Offered For Perfect NCAA Tournament Bracket

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The NCAA Wilson basketball sits at the feet of a referee. (Photo by Rob Carr/Getty Images)

The NCAA Wilson basketball sits at the feet of a referee. (Photo by Rob Carr/Getty Images)

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DETROIT (AP) — Correctly predicting the outcome of every game in the NCAA men’s basketball tournament is no layup.

But there’s now a $1 billion prize waiting for anyone able to pull off the feat this spring.

Quicken Loans announced Tuesday that it’s teaming 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.

Free registration for the contest will begin March 3 and run until March 19.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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