The charity match will be held at an undisclosed location without fans and is being organised by the PGA Tour and AT&T's WarnerMedia, CNBC reported on Wednesday.

Negotiations are still being finalised but the match pitting 15-time major champion Woods and Manning against five-time major winner Mickelson and Brady could be aired on live TV and is unlikely to be featured on pay-per-view, the report said.

"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.

Woods will likely partner former NFL quarterback Peyton Manning in the match. PHOTO: Matt Sullivan/Getty Images.

A match-up featuring two of the most famous golfers of their era and two of the all-time greatest NFL quarterbacks would be a rare sporting event during the coronavirus pandemic which has brought the sporting world to a halt.

The event will feature a small production crew to film it and each individual will obey the social-distancing recommendations to stay six-feet apart, the report said.

Mickelson was asked recently on Twitter about the chances of a round of golf against Woods being live streamed in the near future, and the American replied: "Working on it".

When another fan tweeted to Mickelson asking him not to "tease", the 49-year-old responded: "I don't tease. I'm kinda a sure thing".

Woods, 44, last competed in mid-February and then withdrew from a number of tournaments with a back injury before the PGA Tour decided to cancel a slew of events because of the coronavirus.

Mickelson finished third in the Pebble Beach Pro-Am in early February and missed the cut in his next two starts.

Woods and Mickelson played each other in a winner-takes-all $9 million match play exhibition in November, 2018 that was golf's first venture into pay-per-view.

That event was hyped like a Las Vegas prize fight but proved more of a pillow fight with both golfers in jovial mood, playing for a purse that was put up by sponsors and went to a charity of Mickelson's choice.

Brady recently joined the Tampa Bay Buccaneers after 20 years with the New England Patriots during which he won an NFL-record six Super Bowl titles.

Manning, who played for the Indianapolis Colts and Denver Broncos, retired in 2016 as the NFL's all-time leader in passing touchdowns and yards and is the only five-time winner of the league's Most Valuable Player award.