Hold a New Tournament
Events: team fighting, magical duels, fencing, races and throwing (javelins, etc)
Length: about a week
Awards: first place and an honorable mention
Top Prizes: contest-related (eg, horses for jousting)
Crowd: cheers for specific competitors
Betting: unofficial - tolerated
Other Entertainment: a storytelling contest and local bards
Competitors of interest:
The local favourite who will do anything to win.
The proud youth who came from nowhere.
The disgraced noble who proves to be highly honoroble.
The musclebound brute who is highly talented.
The hulking barbarian who is suspected of cheating.
The nondescript mercenary who is all talk.
The gangly youth who is relatively well-known.