EA Sports announced the the 2016 Madden NFL 16 Championship today. The championship will culminate in a finals this summer at EA PLAY, which takes place during E3 this year.

Players can participate in Ultimate Team, Draft Champions and the new Salary Cap Ranked mode on PlayStation 4 and Xbox One. Participants are playing for a chance to win a share of a $50,000 prize.

In a statement Todd Sitrin, SVP and General Manager of EA’s Competitive Gaming Division, said, “Madden NFL players can be some of the fiercest competitors out there, and we’re excited to celebrate their passion and skill with the Madden NFL 16 Championship. We look forward to incredible competition in the community as the Madden NFL 16 Championship builds to the finals taking place on stage at EA PLAY in June.”

Players competing in Salary Cap Ranked and Season 2 Draft Champions Ranked ladders can climb the leaderboards and compete in live events for a chance to take home the grand prize at EA PLAY.

The top 64 players in Salary Cap Ranked on each console will be invited to the first round of the competition.  Madden Challenge Finalists, DCR Season 2 finalists and Salary Cap Ranked finalists will all come together to crown the Madden NFL 16 Champion.

It’s unclear from EA’s statements how many finalists from DCR and Madden Challenge will be invited to the competition.

Will you be participating? Let us know in the comments or on social media.