IAAF Diamond League. Just WTF IS It?

I think the idea for the Diamond League is great and could potentially play a huge role in bringing more attention to the sport in years other than the Olympics.
It will surely be a more successful endeavour than the World Marathon Majors.

IAAF Diamond League – Diamond Race: How it works
The IAAF Diamond League encompasses 32 individual event disciplines, with a points scoring ‘Diamond Race’ which runs throughout the 14 meeting series.
Each of the disciplines is staged seven times with the top three Athletes being awarded the same amount of points at each meeting with the exception of the Final where the points are doubled. The AVIVA London Grand Prix with 27 disciplines on two days counts as one meeting.
1st place 4 points (Final: 8 points)
2nd place 2 points (Final: 4 points)
3rd place 1 point (Final: 2 points)
The Athlete with the highest number of points in each discipline at the end of the IAAF Diamond League season wins "The Diamond Race”. In case of equality on points, the number of victories decides, if there still is a tie, the better result at the Final decides. For an athlete to win a Diamond race and its associated prize, he / she must compete in the final (Zurich or Brussels) of their event discipline.
Winners of each Diamond Race will get a Diamond Trophy and a cash prize but more importantly, will have shown season long consistency to earn the unchallenged honour of being the World Number 1.
PRIZE MONEY
Per each event at each meeting
All 32 disciplines have the same prize money with a total of 30,000 USD x 15 = 450‘000 USD per meeting
Place - Prize Money
• 1. 10,000 USD
• 2. 6000 USD
• 3. 4000 USD
• 4. 3000 USD
• 5. 2500 USD
• 6. 2000 USD
• 7. 1500 USD
• 8. 1000 USD
Diamond Race Trophy
per each Diamond Race winner at the end of the season
The winner of each of the 32 Diamond Races will receive a 40,000 USD cash prize and a spectacular Diamond Trophy created by Beyer, one of the oldest and most respected jewellers in the world, which was established in Zürich in the 18th century.
IAAF Diamond League

http://www.diamondleague.com/Home/