Jan 21, 2014, 12:44 PM EDT
You may know Cleveland Cavaliers owner Dan Gilbert best for his use of an awful font on the his team’s website when LeBron James decides to jump ship and head to the Miami Heat. Or perhaps you know him best for his son, that kid with the bowties.
Here’s another thing worth remembering him for: the Cavs owner has teamed up with Warren Buffett to offer a remarkable $1 billion — yes, BILLION — prize to anyone who can pick a perfect March Madness tournament bracket.
Buffett’s Berkshire Hathaway will be insuring the grand prize. It would be shared by any qualified contest participant who predicts the winners of every game in the men’s college basketball tournament, which is set to begin on March 18. The billion dollars would be paid in 40 annual installments of $25 million each.
Gilbert will use the opportunity to promote his Quicken Loans business with 20 of the closest people to a “perfect” bracket also receiving $100k for a new home loan.
|ochospantalones on The Sixers lost obviously but…|
|Hiccup on Phillies announce ‘R U G…|
|sumkat on Flyers essentially swap Andrej…|
|Jim Anderson on Marlon Byrd claims Phillies ar…|
- Watch: The most Nick Young shot attempt in the history of Nick Young shot attempts
- Happy Black Friday: Evan Turner will pay you $500 for a $229 TV
- Shawn Andrews accuses Donovan McNabb of mistreatment, says he requested a trade
- Apparently, Darren Daulton had to stop Mitch Williams from 'attacking' Lenny Dykstra on Saturday
- Just 6 days to kickoff: Video to get ready for Union opener, some "kit" talk, and #USMNT shirts
- Maurice Edu has yet to play in Philly, yet he's already cooler (and nerdier) than you #throughglass
- Man hits ridiculous halfcourt shot during West Chester U. halftime contest, but won't get his $10,000
- This outlandish Penn State-themed Christmas light display is going to cost a lot of money
- Eagles #FlyEaglesFly team release another awesome video featuring DeSean's miracle return