There will be a pot of 15 - 20k gold for the winning team, possibly more if we can get some more donations. You will be allowed to chose your own team members as long as it is not a 3dps team.
The only gear not allowed will be Heroic raiding gear or legendary weapons. 403 gear is allowed from raids this includes regular mode vial, cunning etc. no heroics though.
It will be in War Games, with a ladder style system of ascension, there will not be a losers bracket, best 2 out of 3 per team. We have changed it to open world arena at blades edge but there is now also rewards for third and second place
If you have any other questions mail Zynasty in game