Red Bull is bringing a greased-pole competition to Philly

Driving the news: Red Bull is heading to Philly on July 27 to launch their inaugural Championship Run in the estuary of the Spruce Street Harbor Park, per a news release.

• The first 100 contestants who sign up will take their turn sprinting up — instead of climbing — a greased pole.
• It costs $29 to enter the competition with prizes announced as the event draws closer.

How it works: Runners will compete in heats of 20, laying it all on the line as they clamber up the slick stick to grab the flag the fastest.

• If no one captures the flag, the runner who travels furthest up the pole in the shortest time will be declared the winner.
• Just to ratchet up the extreme stakes: The pole is re-greased after each heat.

What they're saying: Organizers said the event will test competitors' speed, balance and sheer will to win.

• "Fail to grab the flag and you'll be relegated to the sidelines, watching in anticipation for your chance at redemption next year."

What we're watching: Who enters the competition.

• Philly's has a veritable "who's who" list of pole-climbers, many of whom compete every year at the Italian Market Festival.