A short post on the Guild Wars 2 site indicates that paid PvP tournaments will be replaced with free ones with the February 26th patch. Free tournaments will come in both one and three round flavors.
One of the reasons we initially introduced Paid Tournaments was to create a place for hyper-competitive, highly skilled players to find matches with other players of comparable skill, leaving the Free Tournament system available for more casual competitive play. However, now that we have a ratings and matchmaking system in-place that matches players of similar skill levels, we’ve decided that the ticket cost barrier-to-entry of Paid Tournaments is no longer necessary.
Read more on the Guild Wars 2 site.