Hold a New Tournament
Reason: held seasonally
Events: melee fighting, archery and races
Length: two weeks
Awards: first place winner(s)
Top Prizes: contest-related (eg, horses for jousting)
Crowd: fairly small
Betting: unofficial - fair odds
Other Entertainment: magic shows and musical contest(s)
Competitors of interest:
The cheerful fighter who has quite a few fans.
The disgraced noble who is frighteningly fast.
The foreign noble who is rumored to not always fight fair.