^ Correct, the full amount is an annuity paid out in 29 years. No one in their right mind would take this with the impending "fiscal cliff" on the horizon. Best to take the lump sum (roughly $375 million) and brace yourself for taxes. Consevatively you are looking at $225 million after taxes.
From there the following should happen:
$45 million into bonds and other low risk investments
$35 million into aggressive growth stocks/commodities
$25 million into a family trust
That leave $120 million to buy USF a mighty fine fieldhouse as well as indulge in the finer things in life.