Hold a New Tournament
Reason: sponsored by an organization
Events: jousting, archery, races and martial arts
Style: round robin / points-based
Length: over a week
Awards: first place winner(s)
Top Prizes: largely symbolic (trophies, etc)
Crowd: full of hecklers
Betting: official - rigged odds
Other Entertainment: hired bards, professional hecklers, musical contest(s) and a storytelling contest
Competitors of interest:
The determined youth who is a long shot to win.
The odd foreigner who knows quite a few unorthodox tricks.
The nondescript mercenary who is very good.
The foreign noble who practices an usual style.
The flirtatious bard who is fiercly competetive.
The tricky rogue who is rumored to not always fight fair.