After reading that (and I went to the webpage as well), it isn't clear how the payout is determined. Let's say I'm #12 seed Boise state. Clearly I get $4M for getting into the playoffs. Let's say I win my first game and make it to the quarterfinals. Do I get another $4 M payout (total of $8M)? I assume the author of the article knows. He/she just doesn't know how to write an article in a way that accurately conveys the information.

What if I'm Boise and I win the opening round and the quarterfinal game and make it to the semifinals. Do I get a total payout of $6M, or is my payout $14M (4+4+6)?