Hold a New Tournament
Reason: celebrating a recent event
Events: throwing (javelins, etc), fencing and magical duels
Length: five days
Awards: first and second place
Top Prizes: good equipment (armor, etc)
Crowd: has an influence on the judges
Betting: unofficial - heavily punished
Other Entertainment: professional hecklers, magic shows, parades and trained animals
Competitors of interest:
The local favourite who desperately needs the prize.
The flirtatious bard who is a long shot to win.
The gangly youth who is highly talented.