Hold a New Tournament
Reason: religious holiday
Events: throwing (javelins, etc), martial arts and archery
Style: round robin / points-based
Length: several days
Awards: first place winner(s)
Top Prizes: small sums of money
Betting: official - fair odds
Other Entertainment: parades, magic shows, acrobats and jugglers and professional hecklers
Competitors of interest:
The menacing sorceror who has an ulterior motive for competing.
The odd foreigner who has more wit than skill.
The cheerful fighter who is rumored to not always fight fair.
The proud youth who has already made a few enemies.