$60 million winner-take-all tournament set

LOS ANGELES (Absolute Poker) - Six players will compete in a winner-take-all $60 million televised poker tournament next summer.

Fox Sports Net and Mansionpoker.net reached agreement on a three-year deal Monday, with the pots growing to $75 million in 2007 and $100 million in 2008 for the one-day competitions at the Crown Casino in Melbourne, Australia.
The first tournament is scheduled July 12 and will last at least six hours and up to 10 hours, said FSN vice president of programming and production George Greenberg.
"This event will transcend poker in the United States and take on a global platform," Greenberg said. "It'll be the largest single payday in the history of sports and will turn the poker world on its ear."
Phil Ivey, considered among the world's best Texas Hold 'em players, will be in the field. The other players will be announced later, Greenberg said. Among the most popular televised poker events is the World Series of Poker. Joseph Hachem of Australia collected $7.5 million for winning the main event of the 36th World Series in Las Vegas last summer. A field of 5,619 entered the $10,000 buy-in Texas Hold 'em tournament. Each of the nine players who reached the final table won at least $1 million.

http://msn.foxsports.com/other/story/5162034

I'm curious to see where the money will come from.