Taking to Instagram on Saturday the Dance Again star confirmed the deal had fallen through, penning: “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 favourite Major League Baseball team with her own hard-earned money. We still haven’t given up!! #NY4ever.”

The singer and former baseball player were expected to invest $300 million of their own money into the team, according to the New York Post.

The official statement said: “The consortium led by Alex Rodriguez and Jennifer Lopez has informed the Mets that they are no longer pursuing the acquisition of the team.

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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 statement explained.

“The consortium said that they are disappointed to not be part of the revitalization of New York City and provide an exhilarating experience for the fans and wish the Wilpon family and the entire Mets organization well.”

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