I'd do something simple along these lines, assuming I'm understanding
In the attachment, you can click the arrow, but I listed the teams in Col A
Option Explicit
Sub GeneratePairings()
Dim rTeams As Range
Dim aPair() As Variant
Dim i As Long, j As Long, iOut As Long
Dim sTeam As String, dOrder As Double
Set rTeams = ActiveSheet.Cells(1, 1).CurrentRegion
Set rTeams = rTeams.Cells(2, 1).Resize(rTeams.Rows.Count - 1, 1)
ReDim aPair(1 To rTeams.Rows.Count, 1 To 2)
For i = LBound(aPair, 1) To UBound(aPair, 1)
aPair(i, 1) = rTeams.Cells(i).Value
aPair(i, 2) = Rnd
Next i
'simple bubble sort
For i = LBound(aPair, 1) To UBound(aPair, 1) - 1
For j = i To UBound(aPair, 1)
If aPair(i, 2) > aPair(j, 2) Then
sTeam = aPair(i, 1)
dOrder = aPair(i, 2)
aPair(i, 1) = aPair(j, 1)
aPair(i, 2) = aPair(j, 2)
aPair(j, 1) = sTeam
aPair(j, 2) = dOrder
End If
Next j
Next i
iOut = 2
ActiveSheet.Cells(iOut, 7).Resize(ActiveSheet.Rows.Count - 1, 1).ClearContents
For i = LBound(aPair, 1) To UBound(aPair, 1) - 1 Step 2
ActiveSheet.Cells(iOut, 7).Value = aPair(i, 1) & " vs. " & aPair(i + 1, 1)
iOut = iOut + 1
Next i
If UBound(aPair, 1) Mod 2 = 1 Then
ActiveSheet.Cells(iOut, 7).Value = aPair(UBound(aPair, 1), 1) & " Bye"
End If
End Sub