Maybe we can use that blue swirly pool thing, and turn that into the "Grand Arena"... which is a cross server tournament arena.
It would work as follows:
1. Similar to Guild Wars, you "register" as an individual for the "Tournament". You can only register one team, thus you submit the line up and click "register", and that line up is locked in for that tournament. Note: This would be a cross server event... not just confined to your server.
2. Once the registration has closed, teams are RANDOMLY bracketed in a tournament bracket... You might face a tough opponent, or you might get a weak one, or in the first round you could get a BYE. It should be random based off the teams registered..
3. Then, every hour or 2 hours (or whatever time period is deemed appropriate), the teams will battle and either be eliminated or advance. You can watch your battle after it has completed, but not any of the others.
4. Teams can be rewarded by making the final 64, 32, 16, 8, 4, 2 and the Champion (with better rewards the further you advance).
This tournament would repeat every week (or every few days or whatever)...
Let me know what you think.