Hold a New Tournament
Events: fencing, melee fighting, martial arts and races
Length: one day
Awards: first place and an honorable mention
Top Prizes: contest-related (eg, horses for jousting)
Crowd: will applaud any good effort
Betting: unofficial - tolerated
Other Entertainment: hired bards and a storytelling contest
Competitors of interest:
The musclebound brute who has already made a few enemies.
The local favourite who has good odds to win.
The charismatic warrior who is very good.