Woods and Els have reportedly agreed to be captains for the 2019 matches in Melbourne, Australia. They are expected to be introduced as captains Tuesday at the Arnold Palmer Invitational.
The Morning Read first reported that they would serve as captains.
Woods and Els produced the biggest moment at the Presidents Cup in 2003 in South Africa when they were picked for a sudden-death playoff. They went three holes at Fancourt until it was too dark to continue, and captains Jack Nicklaus and Gary Player agreed the event would end in a tie.
The Associated Press contributed to this report.