What a fantastic concept! If I had the spare capital (and a free year), not to mention no ties, I would seriously consider this.
For the punters that can possibly take you up on your generous offer, what would be the visa requirements for entering the U.S. Peter? Is (potential) prize money won during sport participation classified as income and even if potential prize money wasn't part of the agenda, would a foreigner entering the U.S. to participate in a season of sporting events require visa sponsorship?
Cheers,
Alan.