The IAAF Council has decided to create a new competition called the "IAAF World Relays" with the first editions taking place in Nassau, Bahamas in May 2014 and 2015.
This new two day competition will bring together the world’s best athletes, with a schedule that includes the traditional 4x100m and 4x400m events but also 4x200m, 4x800m and 4x1500m. It is expected that the World Relays will be used to qualify some teams for the World Championships and Olympics.
IAAF President Lamine Diack said: "The wonderful athletics competition in London has not only reinforced the appeal of our sport but specifically the popularity of relay races, which the spectators find dramatic and exciting. We are confident that this new special event, at the beginning of the season, will really help us promote the sport further. We were delighted when the Bahamas stepped forward to host because this country is passionate about athletics and has a tremendous reputation in the relay races. We have received strong support and financial guarantees from the Government of the Bahamas which will help us, together with our partner the Bahamas AAA to deliver an excellent and exciting product."
The venue of the event is the 15,000 capacity Thomas A Robinson National Stadium in Nassau which will host the 2013 edition of the CARIFTA Games.
This event will be open to all IAAF Member Federations and there will be a total of approximately $1.4 million in prize money available.
The event will be broadcast around the world with the Host Broadcasting provided by the Broadcasting Corporation of the Bahamas.