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I also support this idea of a league. I've been considering it myself for quite some time. I could even try to organize and cover a tournament – if I had a little more free time. But this kind of idea definitely requires more than one person, in my opinion. When I organize tournaments on my own, it doesn't even allow me to get a proper night's sleep.
Regarding entry fees, yes, that would serve as both motivation and contribute to the tournament's prize pool. And if needed, it could also be used to support the organizers so they can continue doing this. But if we create restreamed broadcasts from both sides for each game and provide full coverage of the tournament, we'll attract sponsors among the viewers, and that's how we'll get the money without even having to charge the players. But we need to involve more platforms (not just GoodGame and Twitch). It's great that more people are appearing on YouTube, where the audience is many times larger worldwide; we just need to win them over. If the tournament is popular and significant, it will also serve as motivation to maintain a good reputation in the eyes of the viewers.
For players in the lower ranks, the motivation will be to avoid being eliminated. For the top players, it will be the prize money or the opportunity to participate in an important tournament. We could even create divisions based on countries or regions, where the top players are mixed in inter-league tournaments like the Champions League and Europa League. Or we could make it so that the points earned by all players (including those in the middle of the table) affect something. For example, after the first round, we could divide the league into two halves and then distribute the places between them, as is done in some countries in football.
In general, a lot depends on the organization of the tournament and its hosts. You can find an approach to everyone, make them interested, motivate them, and sometimes you even have to work as a psychologist with some of them. In any case, I will be happy if something like this appears on a permanent basis.
Next year, if nothing gets in the way, I want to create a team tournament, but with an unusual format for the teams themselves. A league would be a good fit for the tournament format. But it's too early to talk about it. Time will tell...