We're aiming for mid-June.

How much prize money will be awarded?

Prize money comes from entry fees in most cases. First place will receive 50% of entrance, second will receive 25%.  The remaining 25% will go to keeping the events going and future upgrades and enhancements.

Will teams be forced to split up if they are too good?

It's too early to tell, but if the competition grows stale due to one or two teams dominating at the events, there will be measures taken to re-stimulate the competition.