The tournament was organized by CONCACAF for the 12 teams with the highest attendance in their respective national leagues.

[1][2] The Giants Cup was announced in November 2000 and planned to be one of the two primary annual club tournaments for CONCACAF alongside the more traditional Champions' Cup.

[3] The tournament's semifinals and final were originally scheduled to take place in late April in Los Angeles, but were later postponed to early August to accommodate conflicts with the teams' schedules.

[1][4] The prize money for the Giants Cup was set at $50,000 for the winner and $40,000 for the runners-up.

[citation needed] Arnett Gardens qualified for the quarterfinals.