Recently, the WWE actually made the announcement about the tournament and named it after Mae Young. Once the name came out a lot of talent gave heavy praise of the name as most agree that Mae is someone that deserves to be honored. Now everyone knows that the CWC last year was held to determine the new WWE Cruiserweight Champion. At this point there is no way to know what the winner of the tournament may receive.
The scheduled date for the tournament is currently set for July 13 and 14 at Full Sail University. The tournament is being taped for a new WWE Network series, which will be released in sets as VOD programing similar to how Holy Foley! and Camp WWE were released. At this point the finals seem to be set for August 29 as a live WWE Network special.