Jennifer Lopez and Alex Rodriguez are "so disappointed" to withdraw from the dream of buying the New York Mets.
The couple were part of a consortium planning to purchase the US basketball team and become the "first minority couple" and for Jennifer, the first woman to own a basketball team, but they have had to pull out of the process.
She wrote on Instagram: "Alex and I are so disappointed!! We worked so hard the past six months with the dream of becoming the first minority couple and the first woman owner to buy her father's favourite Major League Baseball team with her own hard earned money. We still haven't given up!! #NY4ever (sic)"
A further statement added: "The consortium led by Alex Rodriguez and Jennifer Lopez has informed the Mets that they are no longer pursuing the acquisition of the team. The consortium, which included Vincent Viola, Mike Repole, and Marc Lore had submitted a fully funded offer at a record price for the team which was supported by binding debt commitments from JP Morgan and equity commitment letters from credit worthy partners.
"The consortium said that they are disappointed to not be part of the revitalisation of New York City and provide an exhilarating experience for the fans and wish the Wilpon family and the entire Mets organisation well."
Meanwhile, Jennifer previously revealed she thinks it would be "amazing" if she becomes the owner of a sports team.
She said: "In this day and age, that would be something that would be so amazing. I don't have anything to report on that end right now. But I think in every field, especially in institutions like Major League Baseball that are so American in this moment in time, it is important for diversity."