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The tournament will involve finalists from major tournaments over a two-year period from both the Professional Darts Corporation and BDO/WDF circuit.

Played with a 32-man international field at the Wolverhampton Civic, the list of competitors will be headed by current Ladbrokes.com World Darts Champion Raymond van Barneveld.

He will be joined by 13-time World Champion Phil Taylor, with the losing semi-finalists from the PDC World Championship and Lakeside Championship also being invited.

Lakeside winner Martin Adams and 2006 champion Jelle Klaasen will also receive invitations, alongside current World Masters champion Michael van Gerwen – who hit a nine-darter in last week’s Masters of Darts – and reigning Las Vegas Desert Classic title holder John Part.

The inclusion of finalists from the major tournaments will also see James Wade, Terry Jenkins, Barrie Bates, Roland Scholten, Colin Lloyd and Phil Nixon qualify.

The seven major tournaments staged during 2007 will provide further competitors, with a selection of national champions from around the world to join those players who have already qualified.

The Wolverhampton Civic has hosted the Holsten Premier League in both 2006 and 2007 in front of packed crowds which have sold out in record time at the venue.

“This tournament will be a chance for the champions of this sport to do battle in a high-profile event,” said PDC Chairman Barry Hearn.

“For the first time in the modern era of darts, champions from both sides of darts’ divide will meet on the oche to discover the greatest of them all.

“We are also offering the successful stars of the BDO the chance to compete for a superb prize fund and the chance to become the Grand Slam of Darts champion.

“The British sporting public rarely get a chance to see so many top class players battling it out in any sport, and this will be an event not to miss.

“The public of the Midlands love their darts and I’m sure they will fill the Wolves Civic once again to see these stars in action on worldwide television. Domestic television negotiations are continuing to ensure that the widest possible audience can see the modern legends of darts slugging it out.”

Grand Slam of Darts Prize Fund
Winner: £60,000
Runner-Up: £30,000
Semi-Finalists: £15,000
Quarter-Finalists: £10,000
Second Round Losers: £5,250
First Round Losers: £3,000
Total: £250,000

Full details of session times and ticket prices will be released in due course.