At PlayStation Experience it was announced that there will be a new Destiny: The Taken King event, and this one will be something special. During this event, players will be able to participate in six-person death races on Sparrows on Mars and Venus. These races will the part of the "Sparrow Racing League" and will lead to juicy new rewards for players who do well. The event starts on December 8th and will last three weeks, and players who already purchased The Taken King will not have to pay for this event. More info will be made available over the course of the day.
Source: PlayStation Experience