Hold a New Tournament
Reason: religious holiday
Events: jousting, melee fighting, fencing, archery and races
Length: one week
Awards: first and second place
Top Prizes: small sums of money
Crowd: cheers for specific competitors
Other Entertainment: musical contest(s), local bards, parades and staged exhibitions
Competitors of interest:
The showy mage who is rumored to not always fight fair.
The local favourite who is all talk.
The tricky rogue who will do anything to win.