The concept will be as a user you make your own "tournament" people buy in via crowd funding.
When the tournament is fully funded the money is collected and everyone is emailed with the tournament start date
It's that simple!
on the admin side I just confirm the winner or winners(there can be multiple) and they get a piece of the pot and i get a peace for hosting it.
you can look at [login to view URL] if you're unfamiliar with crowd funding.