The Dec 2017 Lykan Hypersport Event is my first one since starting G.C a couple weeks ago. Can anyone give me the general strategy around these events?

I easily ran through the first few events until I got to the IP limit. I'm thinking that there's no way I will have enough cash to upgrade all the way to Tier 8...or in general will the winnings of the tiers be enough to buy them? As a n00b with low $ (about 1M) and gold (about 3,000), do I just settle for the 200k that I made in the first few tiers? Or is there a sweet spot to drop out?

Thanks.