Hold a New Tournament
Reason: religious holiday
Events: martial arts, jousting, races, fencing and melee fighting
Style: round robin / points-based
Length: over a week
Awards: first and second place
Top Prizes: enchanted equipment
Crowd: mostly locals
Betting: official - rigged odds
Other Entertainment: staged exhibitions, a storytelling contest, hired bards and acrobats and jugglers
Competitors of interest:
The menacing sorceror who has good odds to win.
The showy mage who is frighteningly fast.
The tricky rogue who may not be in it to win.
The musclebound brute who has many rivals.