BerniceC: Personally, I don't think it should be allowed. (It should AT LEAST be limited to when a person's paid membership ends). My theory is that they like seeing their tournaments always advertised in that green box at the top of the main page. I believe it randomly advertises tournaments on the list, and of course, the more tournaments you have in there, the odds of it being your tournament advertised, increase.
I don't understand the need to have the ability to set up such huge numbers of tournaments, so far ahead of time..