Hold a New Tournament
Reason: held annually
Events: fencing, martial arts, magical duels, melee fighting and races
Length: one day
Awards: first, second and third place
Top Prizes: moderate sums of money
Crowd: cheers for specific competitors
Betting: official - fair odds
Other Entertainment: magic shows, trained animals and a storytelling contest
Competitors of interest:
The hulking barbarian who has more wit than skill.
The gangly youth who is frighteningly fast.
The foreign savage who is rumored to not always fight fair.
The nondescript mercenary who is fiercly competetive.