Here is the word direct from Capcom's mouth:
"Capcom has got together with Xbox to find 5 national champions (France, Germany, Italy, Spain and UK) and the Ultimate European Street Fighter Supreme Master.
All you need to do is register to enter the tournament by completing your details on the form below and we’ll do the rest by tracking your performance through your Gamertag.
You’ll not only be fighting for glory but also the chance for some amazing and unique prizes and the title of Ultimate European Street Fighter Supreme Master."
http://www.capcom-europe.com/sfivofficialtournament/Here are the rules:
Stage one
1st of May – 17th May - Battle Royale via Xbox live Everyone is welcome and competitors will be encouraged to fights as many opponents as possible in order get to the top of the Championship leader board. The best fighters will be contacted directly after this stage to receive a personal invitation to their national final.
Stage two
The top 30 fighters in each country will then be invited to an exclusive ‘Live finals’ at a secret destination within that country (to be confirmed later) on the weekend of the 30th /31st May. Here will be determined the national champion.
National champions will then be flown, all expenses paid, to the European finals to be held the weekend of the 13th/14th June. The Ultimate European Street Fighter Supreme Master will walk away with the title and a brand new Yamaha Aerox R scooter.
Sign up now and get fighting !!
On registering
* By registering your gamer tag and contact details you agree to the abide by the rules of the competition - You will be notified by email confirming your acceptance into the tournament
* Registration for the tournament is open from 17th of April 2009 - 17th of May 2009. Registration after this period will not re recorded.
General
* Competitors must be 12 year old or older by tournament start date
* Competitors under the age of 18 that reach the live finals stage must be accompanied by a parent or legal guardian
* Competition will be run in two stages, stage 1 will take place on XBOX live stage 2 will take place live at an exclusive venue to be confirmed at a later date by Capcom.
* Stage 1 will be exclusively on XBOX live - in a 'Battle Royale' style
* Competitors must have Street Fighter IV Championship mode expansion pack installed
* Competitors must register their Xbox gamer tag and contact email at the official capcom website
* Tournament open to competitors with an Xbox live account in the following countries - UK , Germany, France, Spain, Italy.
Detailed tournament mechanic
* Tournament is open to all Street Fighter IV players on 360 - who have downloaded the championship mode expansion update
* Tournament starts May 1st 2009
* Stage one - Battle Royal - once registered all competitors will have 3 weeks in which to amass as many Grade Points (hence forth known as GP) as possible using the championship mode system
* Competitors may chose to complete in as many championship fights as they like in an effort to gain the most GP points in the period of the tournament.
* Competitors may compete in either Free championship within Championship mode or Graded championship within the Championship mode.
* Competitors may not disconnect mid fight as all disconnections are logged and offenders may be expelled from the tournament at Capcoms discretion
* There is no appeal on any ruling that Capcom make in respect of competitors being expelled from the tournament
* After 17 days of Battle Royal Championship competition, Capcom will notify the top 32 registered competitors scoring the most GPs in each territory
* Capcom reserve the right to include 'Wild Card' competitors into the live national finals for France UK Germany Spain Italy and also the European final.
* Capcom will contact all competitors by email or phone to confirm if they have qualified for an invitation to the live finals stages of the tournament.
Game specific rules
* Competitors may use any of the 25 available characters in game during competition
* All championship bouts must be 99 seconds duration and the best of 3 rounds - the winner is the first to win 2 of the 3 bouts
* Disconnection rates are monitored and competitors run the risk of disqualification.
* Competitors may use any control system - e.g. control sticks or pads.
* Control systems may not be set up with macros. Specifically pre programmed automated button combinations and sequences activated through one button
* Competitors may use any character costume
Live event
* Game rules are the same for online tournament
* Double KO in deciding 3rd round will mean competitor play on more round to decide the winner
* Capcom reserves the right to refuse admission to live event
* Competitors may not be physically or verbally abusive to any other participant or individual attending the event. Failure to comply with this will lead to instant disqualification.
* Capcom shall not be responsible for any and all injuries caused by or conflicts between competitors.
* Capcom shall not be responsible for the loss of any belongings of the competitors.
Prizes
* Tournament prizes are provided by Capcom and may differ from the exact model shown in promotional material
* Prizes can not be exchanged for cash
* Winner of the scooter must be old enough to legally ride the vehicle in his/her country of residence.
* Winner of the scooter is responsible for their own safety whilst riding the vehicle and is responsible for undertaking their own training from a qualified instructor
* Winner is responsible for insurance and maintenance of the vehicle
* Winner must fully adhere to the laws of the land in which they use the scooter.
* Capcom shall not be responsible for any and all damage to the scooter caused by riding or using the scooter in any way.
* Capcom shall not be responsible for any and all injuries caused by riding or using the scooter in any way.
* Capcom shall not be responsible for any and all misdemeanours of any person riding the scooter that contravene the laws of that country.
