Hold a New Tournament
Reason: sponsored by an individual
Events: team fighting, throwing (javelins, etc), melee fighting and jousting
Style: double-elimination
Length: one day
Awards: first, second and third place
Top Prizes: moderate sums of money
Crowd: very large
Betting: unofficial - heavily punished
Other Entertainment: hired bards, magic shows, parades and staged exhibitions
Competitors of interest:
The foreign noble who has many rivals.
The musclebound brute who has an ulterior motive for competing.
The arrogant knight who is a long shot to win.
The tricky rogue who is fiercly competetive.
The wandering fighter who has already made a few enemies.