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March Madness is a term first coined in 1982 by sportscaster Brent Musburger to describe the NCAA mens college basketball tournament and championship. The country is split into four regions. Within these regions, 16 teams qualify for a bracket tournament to determine who moves on to the final four and ultimately the NCAA basketball champion. Wallethub estimates that hourly corporate losses will amount to roughly $1.9 billion as a result of workers whose productivity has been diverted by March Madness. The lowest seed to ever win the tournament was #8 ranked Villanova. Only 35 schools in the history of the tournament has ever won the championship, with UCLA winning the most at 11. Some of the other previous championship teams are 32-2 Kentucky, 32-0 North Carolina, 37-3 Kansas, 29-5 Oregon, 25-9 Arizona, 34-4 North Carolina, 33-4 North Carolina, and 26-6 Michigan State.