Sources informed CNBC, Golf.com and Fox Sports of the negotiations. Woods and Mickelson would pair up with former NFL quarterback Peyton Manning and Tampa Bay Buccaneers quarterback Tom Brady, according to the reports. The match is being organized by AT&T's WarnerMedia and the PGA Tour. Woods has previously played with Manning, including during the pro-am round at the 2019 Memorial Tournament.
The PGA Tour confirmed Wednesday that discussions are ongoing for a Woods and Mickelson rematch, but did not provide additional details.
"Discussions along these lines have been ongoing for quite some time, but nothing has been approved by the Tour," the PGA Tour said in a statement.
Proceeds from the event would be used to assist in coronavirus relief efforts, according to reports. The event is tentatively scheduled for May and would air live on TNT or elsewhere in the WarnerMedia company.
The event would be held at an undisclosed location with no fans in attendance. Each individual would be required to obey social distancing recommendations.
A total of 11 PGA Tour events have been canceled or postponed during the outbreak, including the 2020 Masters Tournament. Mickelson said he has played golf during the pandemic while abiding by social distancing guidelines. The veteran golfer teased fans March 16 on Twitter when asked about a possible rematch with Woods.
"Working on it," Mickelson responded.
"Please don't tease," another fan wrote Sunday.
"I don't tease," Mickelson responded. "I'm a sure thing."
Mickelson beat Woods in the November 2018 1-on-1 matchup, taking home $9 million. The first matchup between the rivals was planned to be a pay-per-view event before technical difficulties resulted in the match streaming for free.