Possible Halo 3/4 FFA Online Tournament

With MCC still over 4 months away I was thinking about doing an online FFA tournament for a small monetary prize. I don’t know where to post this as it is just an idea at the moment so I decided to throw the idea around on the Halo Waypoint forums. There would be no risk in participating as it would be free to enter. Occasional FFA tournaments like this would give casual and hardcore Halo fans more incentive to play Halo until MCC. I am a very passionate Halo fan and appreciate everything Beyond Entertainment is doing for the scene in this down time between games. They are the only business besides Iron Gaming that are giving Halo fans a reason to play outside of the desire alone. Several community members have also hosted small online tournaments and I feel they were successful enough to justify more of similar format. In order to do this a minimum of 64 players would have to show interest and if that goal was met I would finalize the format and set a date. The format would be as follows:

H4GC settings for FFA (BR starts) in Halo 4 and MLG FFA settings in Halo 3
In the event of a tie in kills it goes to least deaths then most assists between tied players
Maximum 128 player bracket
Round 1 would consist of 16 matches of 8 players
Top 4 advance from each match
Round 5 would consist of the remaining 8 players
Winner of round 5 is the tournament winner
2nd - 4th place would drop into a separate 1v1 bracket
2nd place would get a bye and face the winner of 3/4th in a 1v1 for 2nd place
Top 2 payout
1st- $50
2nd- $25

This is just an idea so any suggestions will be duly noted if there isn’t enough interest to go through with the tournament then if anyone wants to casually play some Halo 4 or Halo 3 then hit me up. My GT is Synner117.