I don't quite understand... You mean you'd want to organise eliminations to champions league? That's a good idea in theory, but in practise eliminations would have to be held with ~60 players involved and would take longer than actual champions league...

It depends on how to set up the play in tournaments. It you divided the players up randomly, and made say, 10 4 person single-elimination tournaments with the winner advancing to the main event, it wouldn't take long at all. It would really depend on how much interest there is.