Hold a New Tournament
Reason: festival
Events: races and jousting
Style: double-elimination
Length: nearly a week
Awards: first, second and third place
Top Prizes: unusual artifacts
Crowd: cheers for specific competitors
Betting: unofficial - almost encouraged
Other Entertainment: local bards and staged exhibitions
Competitors of interest:
The hulking barbarian who is frighteningly fast.
The determined youth who has good odds to win.
The disgraced noble who has already made a few enemies.
The flirtatious bard who has an ulterior motive for competing.
The musclebound brute who is very good.
The menacing sorceror who is surprisingly agile.
The devoted cleric who is highly talented.