The bout agreement was first reported by MMA Weekly on Saturday and sources close to Russow's camp have confirmed the news to MMA Fighting.
Though not yet announced by the promotion, Fight Night 24 is expected to take place at the Key Arena in Seattle on March 26. It will make the UFC's first event in Washington. The promotion last visited the Pacific Northwest in August 2009 for UFC 102 in Portland. The main card is expected to air live on Spike TV.
Russow (13-1, 1 NC, 2-0 UFC) will fight for the first time since recording one of 2010's most stunning come-from-behind wins, a knockout of UFC record-holder Todd Duffee at UFC 114 in May. In that fight, Russow was dominated by Duffee on the feet until midway through the third round. He caught Duffee, whose previous fight was a record 7-second knockout of Tim Hague, with a straight right, then another right as he was heading to the canvas. Russow suffered a broken arm against Duffee and has been out of action since that fight.
Madsen (7-0, 4-0 UFC), a contestant on Season 10 of "The Ultimate Fighter," has won all four of his bouts since graduating from the TUF house. After decision wins over housemate Justin Wren, Mostapha Al-turk and Karlos Vemola, Madsen put together his first dominant showing in the UFC with a TKO of Gilbert Yvel at UFC 121 in October. Madsen trains at the H.I.T. Squad camp near St. Louis run by UFC Hall of Famer Matt Hughes.
The main event at Fight Night 24 is reported to be a light heavyweight bout between Tito Ortiz and Antonio Rogerio Nogueira. Ortiz has not won a fight in more than four years. And a welterweight bout between Anthony Johnson and Dan Hardy is also on tap. Former top contender Hardy has dropped two straight; Johnson will return to the Octagon for the first time in what will be 16 months since losing to Josh Koscheck at UFC 106.