ATHLETICS: World champion Gay to race record holder Powell in London

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See the video of Gay and Powell discussing their chances below

American Gay won the world title in Osaka last year with Jamaican Powell finishing third behind Derrick Atkins of the Bahamas.

UK Athletics chief executive Niels de Vos said in a statement on Friday the race would be the highlight of the Crystal Palace meeting which is being staged over two days for the first time.

Head to head: Powell (left) will face Gay in London

"London will be very crucial for me, it is one of the biggest meets of the year right now and that is where it is going down between myself and Asafa," Gay said in a statement.

"He has the title of being the world record holder and I have the title of being the world champion and I think that is really good for the sport.

"If I run back-to-back rounds in London that will catapult me to the Olympics so I am really looking to run fast times in London."

Powell said the London grand prix was always one of the biggest meetings on the season - with the winner of the race awarded £25,000 prize money.

"I always look forward to it, it's always exciting, it's just a special meet," he said.