An exhibition One Day Cup, each week between ITST members, could be a nice alternative if you want to organize a cup
But i don't see that in Champion's League format, it would be better if it's a double bracket tournament (and just on 1 set of 6 games, or 2 sets of 3 games as on the World tour).
Why not doing that on Sundays on the forum ? All the week people suscribe on a topic ; on Saturday night suscribes would be close ; then someone make the draw, and the Sunday, everybody play their games, and people update the draw themselves.
Sunday night we know the winner. We do that each sundays during 4 or 6 weeks. At the end of each tournaments you win points as on ITST.
At the end of the tourney, the top 16 players play the final tournament to declare the "Champion of the One Day Cup Season 1"
It could be an occasion to test new setups, playing fairplay, and make friends That could make the communauty more alive too