#5 Latin American Tournament
Lucha Libre wrestling has a rich tradition and heritage which would bring a lot of fans to the table. WWE has been looking for as much talent they can get in order to secure their Hispanic audience and this kind of tournament would check a lot of boxes toward success.
In order to pull off a tournament like this WWE would probably be wise to partner up with Crash Luchas, AAA, or another Mexican promotion. It might take some negotiation, but it's totally doable.
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With the amount of pull WWE has and the desire to be seen on a global stage, they might be able to pull in some of the biggest names in Lucha Libre for this tournament.
Not only is it in the realm of possibility but it would also result in some outstanding, fast-paced matches. It might also bring some interest into the rich history of Lucha Libre which isn't a bad thing either.