The New York Giants and New York Jets have agreed to drop their lawsuit over the proposed American Dream megamall in the Meadowlands sports complex, according to a published report.

Illustration of the completed American Dream megamall in the Meadowlands (Triple Five)

The Record reports the NFL teams and the mall's developer, Triple Five Group, have reached a tentative deal to settle their dispute, but specific details haven't been disclosed. The developer will also drop its suit against the two teams, the report said.

The teams sought an injunction to prevent Triple Five from resuming construction at the site. They claimed the company's plans to add amusement and water parks at the site would adversely affect game-day traffic at MetLife Stadium, where they play their home games.

Triple Five countersued, seeking damages for an alleged improper campaign by the teams to preserve their monopoly at the site while scaring off potential lenders from investing.

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