In 2007, the tournament was altered to have the first stage consist of 16 competitors to begin and eight to advance to the second part, where the order of elimination will determine the sedings. All eight will advance to the second stage where the winner in the final will be the winner of the tournament, thus removing the third stage.
The first stage occurred at Bound for Glory on October 14. The Quarterfinals of Stage 2 occurred on TNA Impact! on October 18 and October 25. The Semifinals occurred on November 1. The Final occurred at Genesis on November 11.
- Stage 1 - Reverse Battle Royal
- Winner: Eric Young
- Eliminated in one on one match: Robert Roode
- Eliminated in battle royal: (in order of elimination) James Storm, Junior Fatu, Chris Sabin, Kaz, Lance Hoyt, Alex Shelley
- Eliminated in reverse battle royal: B.G. James, Kip James, Jimmy Rave, Chris Harris, Petey Williams, Havok, Shark Boy, Sonjay Dutt
- Stage 2 - Single-elimination tournament
|Quarterfinals||Semifinals||Final (ladder match)|
- The match between Sabin and Shelley ended in no-contest after Team 3D interfered. Neither qualified, and the opening was filled by Christian Cage by defeating Samoa Joe.
- Chris Harris replaced Junior Fatu in the Semifinals.
- The Final was originally held on November 8, with Cage pinning Kaz. Due to interference in the match, the original decision was thrown out and made into a ladder match at Genesis.
- Kaz received a title shot on the November 15 edition of TNA Impact!.