48 teams are split into 12 groups of 4. Each team plays all 3 others in their group. Teams earn 3 pts for a win, 1 pt for a draw, 0 for a loss.
32 of 48 teams advance to the knockout round:
3rd-place teams are ranked by points, then goal difference, then goals scored. A 3rd-place team with 4+ points almost always qualifies.
| Round of 32 | 32 teams → 16 |
| Round of 16 | 16 teams → 8 |
| Quarter-finals | 8 teams → 4 |
| Semi-finals | 4 teams → 2 |
| 3rd Place Match | Losers of semis |
| Final | Champion crowned |
Knockout games that are level after 90 minutes go to extra time, then penalties if still tied. No draws.
Each bidder owns 8 teams. Points accumulate as your teams progress through the tournament. A bidder's total score is the sum of all points earned across their roster.
| Advance to Round of 32 | +2 pts |
| Win the group outright (1st place) | +2 pts |
Points are awarded for each knockout win, not just for appearing in the round.
| Win Round of 32 | +4 pts |
| Win Round of 16 | +6 pts |
| Win Quarter-final | +8 pts |
| Win Semi-final | +15 pts |
| Win the Final (Champion) | +25 pts |