Player-managed tournaments won't work here because the sparring community is very fickle and divided. It empowers players with egos to think that they can just refuse to enter the tournament and then that will completely invalidate it. You can't really do that with a GST. CrimeWatcher's tournaments work because they've been going on a while and have proven to be successful and actually come with a small reward. Sparrers here are greedy and care more about their incremental number or a prize than actually proving they are the best.

That issue never existed on PC because we never had a wins statistic, our tournaments were weekly, the community was smaller and closer together, etc. I personally wouldn't bother investing the time to try and make it work because the odds are greatly against you.