Epic could learn from what was done in Rome:Total war, It has a story line in a very subtle way, ie character have traits that they gain throughout the game depending on their actions, some of the traits are very funny! As you play the game different factions are fighting each other, so each time you play , different ones get wiped out, and you don't know who you'll be fighting in the end to win the game.
I think Epic should continue with the idea of a the player managing their team to win the tournament but make it richer and more developed, players gain traits and a reputation depending on their playing style ie, Headshots, Favourite weapon, Bunny Hopping, Using Link, Flak Monkey, Camper, Suicides
stuff like that.... they then get a funny nickname because one of these traits
Next time a Bot team fight your team they will be perfectly aware of your playing style and will try to adjust to fight against it!
As different wars go on in total war, and factions rise and fall, make aliances and break them, so should different teams in the tournament be fighting diffferent matches in the background, the outcome of these is not always the same so you can't be sure who you will be fighting on a particular map on the tourney ladder, each time you play the ladder it would be different, the player should have to pay attention to a rankings scoreboard to see which team is on top, and who they have to beat to get there.
The bloodrites in UT2k4 was good, but the player should also be able to challenge any team they wish to a bloodrites instead of the game randomly challenging you all the time!
Epic really need to bring back a trophy room/hall of fame mor akin to the one from UT99