Favorites in battle! - 5 The Battle of Favorites! - 5

Can someone explain what the tournament format is? A standard double-elimination system usually involves a winners' final and a losers' final, with the winners of each playing in the grand final. But judging by the bracket and Pete's posts, it seems that we're already playing in the grand final against Roma, and the losers' final is for third place. I'd like to understand this better.