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IMHO, 3 groups of 9 participants each, with 4 advancing from each group, resulting in 12 players competing against each other.
The number of players advancing from the groups should be a power of 2, i.e., 4, 8, 16, 32, etc.; otherwise, at a certain stage in the final, someone will not have a pair with an equal number of wins/losses. Therefore, the top 5 players from each group will advance, plus the best of the 6th-place players.