Quicken Loans Will Not Repeat Billion Dollar Bracket Challenge; Says It's Moving On To 'Something New And Innovative'

In 2014, Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B), Quicken Loans and Yahoo! Inc. YHOO hosted the “Billion Dollar Bracket Challenge.”

This contest offered a chance to become a billionaire to anyone who could predict all 64 winners -- through Yahoo! -- for the NCAA Division I Men's Basketball Tournament.

March Madness fans were expecting the Challenge to be repeated this year, but this won’t happen, CNN Money reported on Friday.

Last year’s contest generated a series of lawsuits between Yahoo!, Berkshire and sweepstakes company SCA Promotions.

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In a statement sent to Benzinga, Quicken Loans spokesperson Aaron Emerson said, "Instead of repeating the bracket contest, we are now turning our attention to something new and innovative that will carry on our heritage of launching unexpected and engaging events that will take the nation by storm again."

"Stay tuned," he added.

The rest of the statement is below (emphasis author):

Quicken Loans was excited to shock the nation with news of our Billion Dollar Bracket Challenge in 2014. The contest was unexpected and fun for all who submitted their brackets. Nothing thrills us more than unveiling an event that piques the country's interest.

At Quicken Loans, we have a history of creating exciting events and sponsorships, such as the first ever college basketball game on an active aircraft carrier, sponsoring a race at NASCAR's fastest track, offering $1 million for a hole-in-one at a PGA TOUR event and the Billion Dollar Bracket.

Instead of repeating the bracket contest, we are now turning our attention to something new and innovative that will carry on our heritage of launching unexpected and engaging events that will take the nation by storm again – stay tuned.

Image credit: SD Dirk, Flickr