Hold a New Tournament
Reason: held seasonally
Events: throwing (javelins, etc), magical duels and jousting
Style: round robin / points-based
Length: several days
Awards: first and second place
Top Prizes: enchanted equipment
Crowd: locals and foreigners
Betting: official - fair odds
Other Entertainment: acrobats and jugglers, a storytelling contest, musical contest(s) and staged exhibitions
Competitors of interest:
The odd foreigner who is frighteningly fast.
The mysterious stranger who has an ulterior motive for competing.
The jaded warrior who practices an usual style.
The arrogant knight who is highly talented.