If you mean doing just like the 500 and 750 TC tourneys are doing (a series of tourneys with automated prizes each time a tourney is done), you cannot do that.
If you mean hosting your own tourney, here's what you do :
- Prepare the server (mod and such...)
- Go
here and make a broadcast stating the details of the tourney (what room it is, what the mod and prizes are...) (you pay 10k for a broadcast, or 5k if you're a VIP).
- Wait for people to get in.
- When you have enough people, type /knockout to enable knockout mod.
- The tourney has started. When only 2 people are left, they are the 1st and 2nd places. You send them the prize when they finish the match (except if you wanna give a prize to 3rd place as well).
- Congrats, you just hosted a tourney.