Hold a New Tournament
Reason: religious holiday
Events: races, melee fighting, archery and martial arts
Length: two days
Awards: first place winner(s)
Top Prizes: large sums of money
Crowd: has an influence on the judges
Betting: unofficial - fair odds
Other Entertainment: trained animals and local bards
Competitors of interest:
The nondescript mercenary who is a long shot to win.
The determined youth who may not be in it to win.
The gangly youth who has already made a few enemies.
The menacing sorceror who has more wit than skill.
The foreign noble who is fiercly competetive.
The precocious commoner who has an ulterior motive for competing.