What is going to happen, is something similar to what Big Creek is doing.... You will guarantee "X" in prize money.... but it will grow based on team count or new sponsors coming on board. The organizer can keep in contact with the cooks an any updates that are warranted. If the money is there, cooks will come... even if the final value is not determine until after the guaranteed amount is determined.
Many organizers are putting Minimum money "x", but note 100% of all entries will be repaid, etc.... and then put the entries on their website... so you can do your own math...
Andy /Smoke on Wheels Competition BBQ - www.smokeonwheels.com