Manual Rank Update

I have what I'd thought would be a simple problem, but I haven't yet been able to track down an answer. I am trying to manually rank a list (column) of players' names. What I'd like to be accomplish is something to the effect of being able to enter a value for a single player, then have the cells resort themselves AND update the list.

Example:

RANK PLAYER NAME
1 Jon
2 Jim
3 Joe
4 Jack
5 Jane

I'd like to be able to manually change A5, for example, to 2 and then have the list update itself to read:

RANK PLAYER NAME
1 Jon
2 Jack
3 Jim
4 Joe
5 Jane

I've toyed with macros that took care of the sorting piece but I'm still left with duplicate numbers (ranks) that I must then manually change and/or fill down. There are over 500 entries (rows) so this can become a bit tiresome.