Hold a New Tournament
Reason: religious holiday
Events: team fighting, races and archery
Length: about a week
Awards: first place and an honorable mention
Top Prizes: good equipment (armor, etc)
Crowd: fairly small
Betting: official - rigged odds
Other Entertainment: professional hecklers, local bards, parades and musical contest(s)
Competitors of interest:
The charismatic warrior who has quite a few fans.
The gangly youth who will do anything to win.
The menacing sorceror who came from nowhere.
The precocious commoner who has an ulterior motive for competing.
The local favourite who has little practical skill.
The showy mage who is surprisingly agile.