The blog stated that the new ratings and match-making system in place renders Paid Tournaments absolute and that the "ticket cost barrier-to-entry" is no longer necessary. The Paid Tournaments were reserved for "hyper competitive players" where the Free Tournaments were for casual players.
Once the update hits, there will be 1-round Free Tournaments and 3-round Free Tournaments, both tournaments using a separate rating for matchmaking purposes.
The blog reassures that Unused Tournament Tickets are exchangeable for Gold, Silver or Copper Tournament Reward Chests. It also notes that Qualifying Points will be removed as a tournament reward, but top Qualifying Point earners will receive an in-game prize instead of the points.