The New York Times reports that Tony winner Jack O'Brien will direct the production, which will open in September at a Broadway theatre to be announced.
McNally's husband, Tom Kirdahy, is the lead producer of the comedy, which will cast Broderick as a nervous playwright and Lane as his backbiting friend. Manhattan Theatre Club presented It's Only a Play in 1986 with a cast led by James Coco.
"I've wanted to do the play for a while, but so much has changed,” McNally told the New York Times, “so I did a rewrite ... The world of Broadway has changed drastically since the original...When it was written, one person raised the money for a show. Those days are gone.”
Broderick and Lane also shared the stage in a revival of Neil Simon's The Odd Couple. McNally is currently represented on Broadway with the Tony-nominated Best Play Mothers and Sons.
Holed up in a seedy motel on the edge of the Mojave Desert, two former lovers unpack the deep secrets and dark desires of their tangled relationship, passionately tearing each other apart. Led by director Daniel Aukin (Back Back Back at MTC, 4,000 Miles), Tony winner Nina Arianda (Venus in Fur at MTC, Born Yesterday) and Sam Rockwell (A Behanding in Spokane, The Way Way Back) bring an explosive intensity to Sam Shepard’s (Buried Child, True West) landmark myth of the new Wild West.