Big Papi has buried the hatchet with rapper Jay-Z in a dispute over the name of their dueling nightclubs, court papers filed Monday say.
The two were set to square off Tuesday in Manhattan Federal Court over use of the name 40/40, but the conference was cancelled at the last minute, the hip-hop giant’s lawyer said.
“The case has been settled in principle,” said attorney Peter Raymond. “We have agreed on the outlines of a settlement and need to reduce it to writing.”
The dispute began last April when Jay-Z, a die-hard Yankee fan, sued the Red Sox star for $5 million, claiming he stole the name of his 40/40 Club sport bar.
After visiting the Flatiron District club, Ortiz allegedly started his own “Forty-Forty” club in his native Dominican Republic.
Federal District Judge Richard Berman had urged a settlement and said both superstars would have to appear in court Tuesday.
He seemed pleased with the settlement.
“Sounds like a sensible outcome,” Berman wrote in a memo filed in Manhattan District Court.
The lawsuit will be dismissed within 30 days after it’s put in writing.
BY SCOTT SHIFREL
DAILY NEWS