Winner-Take-All Basketball Tournament For $500,000 Launches
$500,000 to the winning team
BOSTON, March 4, 2014 /PRNewswire/ — A new era in basketball has begun with the launch of The Basketball Tournament (TBT). TBT is a single-elimination, winner-take-all, open-application tournament that will take place this summer, pitting 32 teams against one another for $500,000.
Beginning today, teams, players, or anyone who has ever dreamed of running his or her own sports franchise will be able to create a team page on TheTournament.com. The teams and the dreamers will have until May 1( )to build their fan bases as large as possible, at which point the application period will close and 32 teams will be selected.
The only way to gain a slot in TBT is through fan support. Fans who have registered on TheTournament.com will pick their favorite teams, and 24 teams will be selected based on how many fans they have. TBT will invite eight other teams on the basis of talent, creativity and ability to recruit a fan base.
“We have no idea who will enter or who will win, and that’s really the fun of the open tournament model,” says Jonathan Mugar, Founder of The Basketball Tournament. “It’s not only an event for players, but also for anyone capable of building a fan base. Anyone can create a team page, gather fans online, and assemble a team by picking players through TheTournament.com. It’s just like building a fantasy team. 5 wins to $500,000 should attract many different types of entrants.”
Entry into TBT is free. Teams will consist of a General Manager (GM), 7-9 players, and a large fan following. GMs will create team profiles on TheTournament.com, in hopes of garnering enough fans to be one of the teams selected on May 1. Likewise, players will create their own profiles on the site, in hopes of convincing GMs to offer them a chance to join their teams. Applicants must be 18 or older and legal U/S residents to be considered.
Philadelphia University will play host to the first four rounds of TBT from June 6-8. The two teams that emerge from that weekend will play for $500,000 on June 28. TBT fans will further impact the tournament by voting to determine which of the final two teams will host the final game.
Fans also have the opportunity to win with TBT. They will earn points throughout the competition based on the team they choose to follow, the number of fans they recruit, and their level of engagement with TheTournament.com. Unlike TBT teams however, fans will never get eliminated, so everyone has a chance to win over $50,000 in prizes such as a $25,000 cash prize or a Las Vegas weekend for you and nine friends.
Create a team as a GM. Join a team as a Player. Promote a team as a Fan. All three roles will be essential to crowning the inaugural TBT champion. The race to be one of the 32 teams selected begins today at TheTournament.com.
Tony Ponturo of Kirmser/Ponturo Group, Andy Dolich of Dolich Consulting, and Len DeLuca of Len DeLuca & Associates, LLC, serve as advisors.
SOURCE The Basketball Tournament