League Playoffs Explained

Here's a full overview of the very confusing League Playoffs:

All teams are eligible to play in the free play leading up to the Playoffs, but to join a division you can join with either 8 or 24 players. You can manage your lineup the first time that you choose to start a tournament, after that you will need to go into your league settings and change your 'default lineup' to have other players swapped in for future tournaments. Once the playoffs begin, the top 64 leagues in the 24 person and 8 person divisions will take part in the first round of playoffs.
Current League Ranking does NOT factor in. If you go into Leaderboards and scroll to the right from 'Overall' at the top, you'll notice that both are currently empty. As leagues progress, these will begin to populate; this is your standing in the tournament season. It will update tomorrow around 12:30 EST as the first tournaments of the season end.
Yes-- everyone in the league gets rewards. If you are in a 32 man league, and you enter an 8 member division, and win, all 32 members of the league will get the same rewards as the 8 who actually competed.
Rewards are as follows (copying and pasting, but I'm going to elaborate/clarify because legalese can make things unclear sometimes)
These are the top two prizes for the 8 man division (Division2):
Champion prize will be awarded to the top League. Each member of the League will receive one (1) Legend player item with a 96 Overall Rating, +1 Awareness attribute and +1 Speed attribute and one (1) Division 2 Champion Logo item. Approximate retail value (“ARV”) $0.

Runner-Up prize will be awarded to the League that did not win the Championship. Each member of the League will receive one (1) Legend player item with 94 Overall Rating and +1 Speed attribute. ARV $0.
These are the top two prizes for the 24 man division (Division1):
Champion Prize will be awarded to the top League. Each member of the League will receive one (1) Legend player item with a 99 Overall Rating, +2 Awareness attribute and +2 Speed attribute, and 1,000,000 coins and one (1) Division 1 Champion Logo Item. ARV $0.

Runner-Up Prize will be awarded to the League that did not win the Championship. Each member of the League will receive One (1) Legend player item with a 97 Overall Rating and +2 Speed attribute, 500,000 coins and One (1) Division 1 Runner-Up Logo item. ARV $0.
None of the prize cards are auctionable.
Rewards will be delivered the same way that League vs. League rewards are delivered now.