Hold a New Tournament
Reason: held annually
Events: team fighting, throwing (javelins, etc), races, archery and martial arts
Length: about a week
Awards: first place winner(s)
Top Prizes: enchanted equipment
Crowd: cheers for specific competitors
Betting: official - rigged odds
Other Entertainment: professional hecklers and a storytelling contest
Competitors of interest:
The wandering fighter who has little practical skill.
The flirtatious bard who has good odds to win.
The gangly youth who is fiercly competetive.
The cheerful fighter who has an ulterior motive for competing.
The proud youth who is highly talented.