No that's a bad analogy. A world cup is a tournament, BIG is a team.
And yes, of course I know that's what they meant to say with that name, but that sounds really weird. I guess they just wanted to be called BIG and tried to find somewhat fitting words for each initial.
Also smooya and Legija don't have anything to do with the name, they weren't even there when the org was created, and basing an org name on just one of your rosters would be the worst thing to do.
Imagine saying German International Gaming, or Germany International Gaming, that sounds wrong as hell doesn't it? Same thing here.