Bellator got its start based around the tournament format carried out over seasons. More recently, under Scott Coker’s leadership, Bellator has brought the grand prix tournament back to the forefront with eight-man fields spread out over roughly a year. The promotion’s heavyweight tournament wrapped up in January, and a welterweight tourney is ongoing. This past Saturday after Bellator 216 in Connecticut, Coker said the promotion is likely to do a featherweight tournament that will be announced this fall and that the company would like to have a new tourney going on every year. The UFC has had tournaments sparingly, though it has done them – and has done some unofficial ones, as well
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Daily Debate: Which UFC division would benefit most from a tournament? – MMA Junkie