And who knows, maybe we go crazy and start a leaderboard on this with some sick prizes. :P
If this will be a permanent tournament and if there were to be a leaderboard...
( all numbers below are just "educated" suggestions and could be changed into anything )
It could be a rolling 10 week leaderboard that pays a little something for the top ranked players every 5 weeks. Also having a small ( 1,25 - 1,50 ) multiplier on the points from 5 latest tournaments would add some nice value to the persons who have been on good form recently, over the ones that did so 2 months ago and have likely already earned something for that on the previous "payday"
This type of leaderboard would motivate participating each week, and also if someone gets a bad start by bricking the first few tournaments, it wouldn't be the end of the world since you would constantly be building your tower of pooints for the future paydays