This is less of an event and more of a permenant fixture: Isleen O'Lane Stonefall, daughter of Aisling and Charon, has established an arena intended to draw challengers from all across the skylands. Any and all characters may compete in this arena for the purposes of prize and fame, and if they perform well enough in the ring, will be challenged by Isleen herself, for the chance to join the ranks of the warriors who engage with the arena's challengers. It will be public rumor that this arena exists, and it's location would be just as publicly known.
The combat ring features a blessing that prevents permenant death from occuring within the arena. This blessing also prevents any and all attacks from striking audience members outside of the ring.