Tiger Woods announced on Wednesday (March 7) that he will become a PGA tournament host for the first time. The PGA Tour, in conjunction with the Tiger Woods Foundation, are to stage a new $6 million event in Washington, D.C. from July 5 to 8. "This is a dream come true," the world number one said at a news conference. "I remember when I first came out on tour and we started our foundation in 1997, my focus and goal one day with my father was to be able to host a tour event. This is a pretty momentous day." The tournament, which replaces the International on the calendar, has been named the AT&T National. Woods said he would like to play in the event but that will be determined by the timing of the birth of his first child. "I plan on playing but a lot that depends upon the birth of our child. And obvously that's the most important thing in our life right now and my intention is to play but you'll have to take that up with Elin." The Tiger Woods Foundation will serve as the host organisation and primary charitable beneficiary of an event that will recognise and honour the men and women serving in the U.S. armed forces. "It was a no-brainer for us to be able to say yes, with my father's history in the military and the Special Forces, to come here during the nation's birthday," said Woods, whose father Earl died last year after a long battle with cancer. "Anyone on active duty will get free admission to our tournament and all kids under the age of 12 will get in free as well. We want to make this a family-oriented affair." Tour commissioner Tim Finchem is hoping the venue for the first two years will be Congressional Country Club in Bethesda, Maryland, which hosted the Kemper Open from 1980 to 1986. "We think Congressional is the ideal site to launch this tournament and we have requested access (to the course) in 2007 and 2008," Finchem said. "Their board has been positive in their response." A lack of sponsor and the absence of Woods caused the International, held outside Denver, to lose its spot on the calendar.