But what if the speculative buy-in price was just $175? Per an item by Boston Globe digital reporter Steve Annear, that’s what Ross Connelly, the owner of the Hardwick Gazette, has very ingeniously come up with:
The [400-word essay writing] contest runs from June 11, through Aug. 11, or until the maximum number of entries are received. Connelly hopes to draw enough interest from the public that he and a panel of judges will need to sift through 1,889 essays – a number that reflects the year the newspaper was first published.
Entrants will need to cough up $175 – if 1,889 people step up, Connelly stands to make $330,575 – and craft an essay detailing how they plan to keep afloat a print publication in the age of the internet.
The minimum number of entries required for the contest to proceed is 700 (which works out to the aforementioned total of $122,500). Millennials, start your dream-career-change engines!
Update (Aug. 12):
Per AP, Connelly has extended the contest deadline to Sept. 20. He is currently well short of the minimum required amount of 700 entries.
Update (Sept. 21):
The contest has been extended once again, with now a Kickstarter campaign added to make up the projected cash shortfall.