Hold a New Tournament
Reason: held seasonally
Events: throwing (javelins, etc), jousting and magical duels
Style: round robin / points-based
Length: nearly a week
Awards: first and second place
Top Prizes: large sums of money
Betting: unofficial - tolerated
Other Entertainment: a storytelling contest, staged exhibitions and hired bards
Competitors of interest:
The devoted cleric who may not be in it to win.
The disgraced noble who is relatively well-known.
The hulking barbarian who has more wit than skill.
The precocious commoner who is a long shot to win.
The jaded warrior who has many rivals.
The determined youth who has already made a few enemies.