The pair have won the coveted screen rights to the true crime story about an ex-cop who rigged the bi-annual McDonald’s Monopoly game in 2001, Deadline reports. The duo’s production company — behind Oscar winner Manchester By The Sea — will back the project, according to the outlet.
Affleck, 45, will direct with Damon, 47, starring as the fraudulent former officer.
Although the two have remained close friends and professional partners through their company, this marks their first major work reunion since appearing together in Kevin Smith’s religious satire Dogma in 1999 (they briefly interacted onscreen five years later in Jersey Girl).
Damon and Affleck famously won Oscars for writing Good Will Hunting (1997) together, but the pair had seen their friendship flourish long before that. Attending Boston’s Cambridge Ringe and Latin high school together, the two later moved to Los Angeles where they shared an apartment and worked on developing the film’s screenplay.
WATCH: Matt Damon Breaks His Silence on Ben Affleck’s Newly Revealed Tattoo
In April, the friends made headlines when Affleck roasted his pal over old headshots of The Martian star.
“I know this is a day late, but Matt isn’t on Instagram so thought I’d help him out,” Affleck wrote alongside a trio of photos that might embarrass Damon.
Of course, it’s not like Damon hasn’t publicly poked fun at Affleck either.
After new photos of Affleck’s massive back tattoo were captured in March, ending a three-year, is-it-or-not saga, Damon hilariously replied to a question about why he let his friend get the ink, saying, “It’s not one man’s job to tell another man what he can do to his back.”
He added: “I support him in all of his artistic expression.”