Madison, WI (SportsNetwork.com) - The Champions Tour announced on Monday that it has added a new event, the American Family Insurance Championship, starting in 2016.

The event is set to be played June 24-26 in 2016 at University Ridge Golf Course in Madison, Wisconsin, home of the University of Wisconsin golf teams. This will be an 81-player field that will last over three days, as most Champions Tour events do. Players will compete for a $2 million purse.

"We are thrilled to partner with American Family Insurance and hometown hero Steve Stricker to bring this great event to Madison and the state of Wisconsin," PGA Tour Commissioner Tim Finchem said. "Wisconsin has always been a popular stop for our players as many of them experienced success in the state during their PGA Tour careers. They are thrilled at the opportunity to play in Wisconsin on a yearly basis."

Stricker, a native of Wisconsin and 12-time PGA Tour winner who played golf at the University of Illinois, will be the tournament host in 2016 before becoming a player-host starting in 2017 when he becomes eligible for the Champions Tour.

"Returning professional golf to my home state is a dream come true," Stricker said. "When the (U.S. Bank Championship) ended in Milwaukee (in 2009), it was a sad day, and I was absolutely committed to find a way to fill that void. I am proud and humbled to be part of the team to do that in 2016."

American Family Insurance signed a three-year agreement to be the tournament's title sponsor.