Back in June 2024, two months before the Paris Olympics, there was an unexpected announcement by World Athletics president Sebastian Coe. Starting from 2026, there would be a new track and field season-ending finale, a deliberately elite three-day event with a record prize pot of $10 million, brazenly titled as the Ultimate Championship.

Even with no apparent need or indeed great want for another global athletics showcase, the Ultimate Championship would take place in the even-numbered years when the World Athletics Championships aren’t held, thus ensuring a standalone season climax every year – when for some athletes the Diamond League final already fit that bill.

In Coe’s own words, the new biennial format was also “unashamedly aimed at television”, the inaugural edition featuring 28 selected events and taking place over three evening sessions, each of three hours duration, from this Friday to Sunday at the National Athletics Stadium in Budapest. No let-up in between events, no pacemakers, no medal ceremonies, and all aimed at capturing a younger fan base.

So how much money is on offer?

Each individual event winner will pocket $150,000, the largest winner’s prize in track and field history, more than twice the $70,000 awarded to all the gold medal winners at last year’s World Championships in Tokyo. The Ultimate Championship runner-up will earn $75,000, while third will get $40,000.

That’s also more than the standard $30,000 which goes to all Diamond League final winners. Every athlete will leave Budapest with something, right down to the 16th and last-place finishers in all track events up to 800m, who each get $2,000.

Who exactly gets to compete?

The Ultimate Championship was also designed help to settle any debate over “who is the best of the best”, with athletes qualifying not by any regular standards, but by elite invitation only, and suitably remunerated. These include the Olympic champions from Paris 2024, the World champions from Tokyo last year, and the 2026 Diamond League final winners from Brussels last weekend. The remaining invitations were decided on event rankings over the last 12-month period, or in some cases, by exceptional invitation.

Only 16 athletes are invited in events up to and including 800m, with only 12 in the distance races, eight in the field events. All events up to 800m will include two semi-finals, the top four advancing to the final, with the 1,500m and 5,000m straight finals, as are the field events.

What exact events are being contested?

There are 28 events in all, condensed into a total television window of nine hours, notably less than the 50 athletics events on the Olympic and World Championships programme, spread over nine days. These consists of 13 individual events for men and women (eight on the track, and five in the field), as well as two mixed relays. These were selected based in part on audience engagement, which means not without some controversy there’s no shot put and discus for men or women, no women’s hammer, no men’s triple jump, and no steeplechases. And unfortunately for Kate O’Connor, no multi-events either.

How many Irish athletes are set to take part?

Mark English will race the 800m, Sharlene Mawdsley the 400m, and Rhasidat Adeleke the 200m, all three athletes qualifying by virtue of their world ranking. Of the final entries, English is sixth fastest of the 16 over 800m this year with his 1:42.97, Mawdsley is 13th fastest in the 400m with her 50.06, with Adeleke ranked eighth fastest in the 200m with her season best of 22.28, clocked when winning the silver medal at last month’s European Championships.

Mawdsley missed Birmingham with a hamstring injury, before making a winning return to racing on Tuesday night in Italy, clocking 50.58 seconds. She’s first in action on Friday evening, her 400m semi-final set for 6.38pm (the top four advancing to the final, set for 5.08pm on Saturday). English races his 800m semi-final on Saturday at 5.26pm, again with only the top four making Sunday’s final (6.41pm). Adeleke’s 200m semi-final takes place at 5.44pm on Sunday, that final then set for 7.49pm, the last event of the weekend.

So are all “the best of the best” going to be there?

Essentially yes, even though there are a few injured absentees including Olympic 100m champion Noah Lyles and long jump champion Tara Davis-Woodhall from the US, and Kenya’s multiple world champion Faith Kipyegon. Others such as Britain’s Josh Kerr and Norway’s Jakob Ingebrigtsen received exceptional invitations in the 1,500m, given they weren’t inside their event ranking, but according to World Athletics, “this race could not in good faith be considered a full line-up of the greatest athletes on the planet without the inclusion of both Kerr and Ingebrigtsen”.

And no medal ceremonies?

No, only the newly crowned Ultimate champion will collect a gold-plated trophy immediately after their event, which they will then parade on a lap of honour. So, no silver or bronze prizes, only the cash awards for every finisher, plus a participation bracelet. Other innovations include a black infield area, also designed to enhance TV coverage.

Where can I watch?

World Athletics have prioritised free-to-air television, with BBC showing all three hours of each session live this Friday, Saturday and Sunday, while Irish viewers can also watch via the World Athletics streaming site.

Why the need for this event in the first place?

Coincidentally or otherwise, Coe’s original announcement came two months after four-time Olympic champion Michael Johnson unveiled his new Grand Slam Track series, which promised an unprecedented prize purse of $100,000 for each event category champion, starting from 2025.

However, by the time of the third meeting in Philadelphia in May of last year, things were already unravelling. In January of this year, it was reported Grand Slam Track had debts of more than $30m. After this weekend, the Ultimate Championship may be clearer on where its future lies.