To usher in a more global elite competitions, a new series of elite one-day meetings from 2010 called the Diamond League was formed.

China and the United States has been included in the Twelve meetings which comprises of major European venues.

This new league will replace the current European-based Golden League, which will be held for the last time this year.

32 events will be held and athletes if excel get the spoils of their labor with a prize money worth $416,000.

Also at the end of the series, athletes with most points in their individual events will be awarded a four-carat diamond, thus the origin of the league name! The diamond is worth some $80,000.

IAAF President Lamine Diack says this new league will be held in tandem and support the IAAF World Athletics Series of championships and building up interest leading to the Olympic Games.

These are the confirmed venues so far for Diamond League:

1. London Grand Prix
2. British Grand Prix
3. Lausanne Grand Prix
4. Bislett Games Oslo
5. Stockholm DN Galan
6. Monaco Herculis
7. Paris-St-Denis Grand Prix
8. Memorial Van Damme Brussels
9. Prefontaine Classic Eugene
10. New York Grand Prix
11. China Golden Grand Prix
12. Weltklasse Zurich

IAAF is hoping other series to join the league such as the DKB ISTAF Berlin, Golden Gala Rome and the Qatar Athletics Super Grand Prix in Doha.