The tournament was named in honor of then incumbent President Corazon Aquino. Benigno Aquino III, also known as Noynoy Aquino and the son of the president, was the speaker and guest of honor at the opening of the football tournament held at 17:45 UTC+08:00. Philippine Football Federation president Frank Elizalde delivered the welcome address. Inter-Cities Foundation president Ben Ching introduced the participating teams while Gintong Alay Executive Director Jose Romansanta introduced Noynoy. The ceremonial ball was kicked by Kris Aquino and Asian Ladies Football Federation vice president Cristy Ramos. The tournament was on a single round robin format.[2]
Four teams participated at the tournament. The hosts Philippines, was represented by its national team. South China A.A. sports club represented the then British colony of Hong Kong. China is represented by a selection from the Guangdong province. The Soviet Union's representative was a selection from ten cities from the Russian Soviet Federative Socialist Republic.[2][1][3] The Soviet side's players mostly came from the second division and was mentored by Ivan Ivarlanov who at one time was with the first division.[3]