How does Bellator's tournaments work? how many fighters? and does any other promotion do this currently or recently?
I really don't have an answer but I would like to chime in and mention how tournements seem to be coming back into popularity as of lately.
Everytime I turn around their's a new one on the horizon.
Here's all the info on Bellator: http://www.bellator.com/ViewArticle.dbml?SPSID=592058&SPID=73496&DB_LANG=C&DB_OEM_ID=23600&ATCLID=204893237
StrikeForce also does differently styled tournaments. i'm sure their website would have more details the same way as Bellator's does. I think a lot of smaller promotions have been doing various kinds from one nighters to multi nighters.
Bellator holds sixteen-person tournaments over the course of a few months (or a TV season).
Strikeforce's woman's tournament will be a one-night tournament with reduced rounds and length.
(Bellator's tournaments are obviously less ridiculous.)
I like Bellator and the tournaments because I think the tournament format lets the fighters decide who can fight for a title rather than letting the organization decide.