Britain is set to stage two of the 14 meetings in the new Diamond League, a new athletics series that awards the winner with a diamond worth approximately £49,000.
Replacing the prestigious Golden League, the new Diamond League will cover Europe, the Middle East, Asia and the United States, stopping in Gateshead and London will in 2010.
In an attempt to compete with other high-profile sports and their events, athletics’ world governing body the IAAF developed the Diamond League to appeal to new audiences and expand outside Europe.
The new league will allow elite athletes to up the times they compete against on another, as they currently only see each other a few times a year.
Launching 22 August at the World Championships, the Diamond League will see the sport’s biggest stars, such as Olympic champions Usain Bolt and pole vaulter Yelena Isinabyeva, engaged with central contracts and asked to commit to appearing at a minimum number of events.
The new scheme also serves as a way to solve current legacy issues rising for the sport’s stadium being built for London 2012, where rising costs have failed to snag football or rugby clubs to move in following the Olympics. Diamond League organisers could see the stadium as a potential venue for future years.
In a unique award system, the new league will see athletes from 32 different events taking part, with all disciplines having equal prize money of £250,000. There will also be a ‘Diamond Race’ at each event where athletes can participate to attain points. The person who has the most points at the end of the league will win a four-carat diamond worth around £49,000.