For the first time in more than a decade, nearly all of the world's best open-wheel racers come to Milwaukee a week after the Indianapolis 500.

Representatives from the Indy Racing League and Champ Car World Series announced this morning that the two series would merge and run a unified schedule beginning with the 2008 season.

The merger agreement was reached late last week, with the official announcement from IRL President Tony George and Champ Car's Kevin Kalkhoven coming this morning.

George created the IRL in 1995, creating a long and bitter split between the two leagues.

"We welcome and endorse today's IndyCar Series announcement," Milwaukee Mile Chairman Craig Stoehr said in a statement released following the official announcement.

"We consider it a victory for our loyal fans, who will now get to see Indianapolis 500 stars Helio Castroneves, Danica Patrick, Dan Wheldon and Marco Andretti race wheel-to-wheel at 170 mph around our historic one-mile oval against Champ Car standouts Paul Tracy, Justin Wilson and Graham Rahal, among many others, on Sunday, June 1st."

Following the spilt, Champ Car -- previously known as CART -- took Milwaukee's traditional post-Indy 500 date. The IRL took over the date last season, when Champ Car ended its Milwaukee affiliation. Both circuits staged races at the Mile from 2004 to 2006.

The Milwaukee Mile hosted the race following Indy a record 50 times heading into the 2008 event. The ABC Supply / A.J. Foyt 225 IndyCar Series event is slated for Sunday, June 1 and will be televised by ABC.

Another Wisconsin track, Road America in Elkhart Lake, was left out off of the combined schedule, which consists mainly of IRL events along with a pair of former Champ Car races.