Customs or games with less than 8 players

Hey guys, I was wondering if there are current plans are to implement a custom mode for this or for groups to only get matched with less than 8 players. I spoke to Riot Support for this, and they forwarded me to this board to ask the devs directly. Would anyone else be interested in a custom mode for this? My group are debating hosting a TFT tournament at our club meetings.

Which would also lead into my second question - how would the ranked games work? What would count as a "victory" in a 8-man FFA? Top 2? Bottom 4 Lose?