I've just come back from Huskisson...

I watched this race yesterday afternoon I had never heard of. It was awesome to watch!

It's called Criterium. It's a race for young Elite Triathletes and works on a very fast three-round elimination basis.

One round is
300m swim
8km (8x1km) cycle circuit
2km run

They start with 25 participants, round 2 is 19 and round 3 is 9. Whoever comes 1st out of the last round wins the overall race.