The singer/actress and former Yankee star, who led a group of investors to buy the Major League Baseball franchise, announced Friday night (Aug. 28) that they were withdrawing their bid to buy the Mets.
“Alex and I are so disappointed!! We worked so hard the past 6 months with the dream of becoming the first minority couple and the first woman owner to buy her father’s favorite Major League Baseball team with her own hard earned money. We still haven’t given up!!” Lopez wrote on Instagram.
The J-Lo-Rodriguez group bid was for $1.7 billion, with the couple putting in $300 million of their own money, ESPN reported in July.
With Lopez and Rodriguez out of the bidding war, it’s expected that billionaire hedge fund manager Steve Cohen will finalize a deal to purchase the Mets in the coming days, according to CNBC.
Cohen had reportedly been close to finalizing a deal to acquire the team for about $2.6 billion in 2019.
Read Lopez’s full statement about losing the Mets bid here.