The news comes just a month after Golf.com's Alan Shipnuck reported that plans for a match between the two golf legends had fallen through after a potential date had been set in July. Big Cat vs. Lefty will take place in Las Vegas.
The stakes will be high: The reported winner-take-all purse of $10 million would payout more than five times what Masters victor Patrick Reed received in April.
There's still no word on what the actual amount of money will be, but it's still rumored to be $10 million.
The duo have been rivals for much of their careers, with Mickelson a long-time number two to Woods' domination as world No.1.
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The game will be an early test to see how far they have come in the short time that Maurizio Sarri has been in charge of the club. Cesc Fabregas could be the only player to miss out from that side, after he picked up a minor knee injury in the game.
Woods, 42, and Mickelson, 48, are competing in this week's WGC-Bridgestone Invitational that begins Thursday at Firestone.
"It took me a while to get comfortable with the idea of dancing on what would be on national television, but once I did, it was so much fun to shoot", Mickelson told ESPN. In the article, Mickelson said, "It's a ridiculous amount of money".
"We are still working on it", Woods said. "We'll play for whatever makes him uncomfortable", he said.