Design Breakdown:

1. **Star Icon**: Retain a star shape but change the color to blue with a silver outline. Modify the inner star to have a gradient effect instead of a solid color.

2. **Text Arrangement**: Change "DA" to "NEW" while keeping "COMPETITIONS." Alter the font style to a bold, modern sans-serif.

3. **Color Scheme**: Replace the green with a deep navy blue for the text and replace the olive green line below with a lighter blue.

4. **Line Element**: Transform the line beneath the text to a wavy form instead of a straight line, maintaining a light blue hue.

5. **Background**: Keep the background white but introduce a subtle texture (like a faint pattern) to add depth without overwhelming the design. 

This revised design maintains the original elements while offering a fresh look.