This is the 12422nd most frequent Turkish word.
heyecanlı
Excited or nervous.
Here, 'heyecanlı' qualifies 'haber,' indicating that the news itself causes excitement.
Heyecanlı bir haber aldık.
We received exciting news.
In this usage, 'heyecanlı' is used to describe 'yarışma,' implying that the competition is anticipated to generate excitement.
Heyecanlı bir yarışma olacak.
It will be an exciting competition.
In this sentence, 'heyecanlı' describes a person's emotional state, specifically the feeling of excitement.