The Collaborative International Dictionary of English v.0.48:

Tourney \Tour"ney\, n. [OF. tornei, tornoi, F. tournoi, fr. OF.
   torneier, tornoier, tournoier, to tit, to tourney, F.
   tournoyer to turn round and round. See Turn, v. t.]
   A tournament. --Bacon.
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         At tilt or tourney or like warlike game. --Spenser.
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         We hold a tourney here to-morrow morn,
         And there is scantly time for half the work.
                                                  --Tennyson.
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The Collaborative International Dictionary of English v.0.48:

Tourney \Tour"ney\, v. i. [Cf.OF. torneier. See Tourney, n. ]
   To perform in tournaments; to tilt.
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         Well could he tourney, and in lists debate. --Spenser.
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WordNet (r) 3.0 (2006):

tourney
    n 1: a sporting competition in which contestants play a series
         of games to decide the winner [syn: tournament,
         tourney]
    v 1: engage in a tourney