Hypothetical Standings after Round Robin:

Team / GM (record)
1979 Pirates / Richie (20-4)
1998 Yankees / Richie (19-5)
1986 Mets /Pete (16-8)
2007 Sweat Sox / Dave (15-9)
2004 Astros / Dave (14-10) - Returning TNT Champion
1964 Cardinals / Richie (13-11)
2007 Yinzers / Pete (12-12)
1977 Phillies / Ward (12-12)
1973 A’s / Dave (11-13)
1911 Cubs / Ward (11-13)
2007 Nipters / Ward (11-13)
1993 Blue Jays / Pete (10-14)
1954 Dodgers / Pete (9-15)
2007 Roody Poos / Richie (9-15)
2002 Angels / Ward (8-16)
1930 Pirates / Dave (5-19)

The winner of the previous tournament (the 2004 Astros, in the example above) automatically gets top seed and plays the team with the worst Round Robin record among the other owners (in this case, the 2002 Angels, since the worst record is also Dave's team). This is placed as the top matchup in the top bracket.

The second seed here would be the ’79 Pirates (best overall record), playing the next worst team, which would be the 1930 Pirates. This is placed as the bottom matchup in the bottom bracket.

Third seed would be the ’98 Yankees, playing the ’54 Dodgers, placed as the top matchup in the bottom bracket; then, the ’86 Mets would be seeded fourth, playing the Roody Poos, and placed as the bottom matchup in the top bracket.

The beginning bracket after seeding would look like this crappy image:

From there, in reverse draft order, GMs place their remaining teams in their bracket of choice, so that each beginning bracket of four includes four different GMs.