I truly believe tournaments are still possible, even at the highest level. If the fans make it known that they want to see a tournament more than anything, I know Dana and company would get on board. I also think most commissions would somehow get on board too, if it's not crazy like the 2000 GP.
Having more than 2 rounds in a night is too big of a leap right away. All I'm asking for is the classic PRIDE structure. Single rounds, until the semi's. Just do the semis and finals in the same night. So, it's only one fight that would really bother the commission. I just think that is true magic for a fan, when you are going through the 4 possibilities for the finals. You watch the semifinals with the sharpest eyes.
In today's mma, there will be injuries and horseshit. So, they may need to spread out the events. Instead of doing it over the course of 4-5 months like Pride, maybe they could do it over 7-8 months.
But the one request of mine would be to never postpone any fights in the tournament. The best way to ensure this is to brand the tournament events like PRIDE did. Keep it tight with 3 branded events. You're already tying up a division, you don't need to tie up your schedule.
If someone is injured 2 weeks out, he's out of the tournament. It sucks, but that's how it should be. Exceptions would be made for horseshit that happens during the fight (Fedor/Nog 2). But otherwise, you just replace the fighter with a qualified alternate (Bustamante for Arona, Misaki for Filho). Of course, if someone is injured before Rd 1 or 2, he can fight for a reserve spot in Rd 3 or 4.
There will be plenty of asterisks in the history books, but I just want to see if the tournament is worth it. I think mma fans are dying to see something like this. I really wish they'd give it a shot.