Чтобы получить его в запрашиваемом порядке, необходимо включить в запрос desc
CREATE TABLE #league
( position int, players varchar(50), points int)
insert into #league select 1, 'Player1', 10
insert into #league select 1, 'Player2', 10
insert into #league select 1, 'Player3', 10
insert into #league select 4, 'Player4', 8
insert into #league select 5, 'Player5', 7
insert into #league select 5, 'Player6', 7
insert into #league select 7, 'Player7', 5
SELECT *, RANK () OVER( ORDER BY points desc) AS Position
FROM #league
DROP TABLE #LEAGUE