Can we get IP tournaments : Bracket System

I don't why riot have not done this, A tournament addition would make this game so much more fun:

Requirements would be you have to be at least level 30 and besides the unranked/ranked mixed tournaments there would be special tournaments for each division (bronze, silver, gold, plat, diamond), With entry fees going from 50IP to 500IP and rewards going to the top 40 players(quarter final teams), Solo Queue only. Would make this game so much more exciting.