Jennifer Lopez, Alex Rodriguez Lose Bid to Buy New York Mets

The New York Mets aren't going to be bought by Jennifer Lopez and Alex Rodriguez after all, as the couple threw in the towel and officially pulled their bid to buy the team.

Lopez and Rodriguez were in a serious battle with hedge fund billionaire Steve Cohen who also wanted to buy the Mets. They were recently found to be favorites in the bidding battle, according to Bleacher Report.

They officially dropped out of the running on Friday night. But the turn of events has left both Lopez and Rodriguez disappointed.

She added that they've worked hard for the past six months to get the Mets.

Lopez and Rodriguez Reached Second Round of Bidding

According to Sportico, the close fight was already at the second round of biddings. J-Lo and A-Rod, Cohen, billionaire Josh Harris and a fourth unidentified party were all in that round.

The groups were informed about the status of their bids by investment bank Allen & Co., which is overseeing the sale. They were told not to submit offers on the team's regional sports network, SNY, as it was not part of the sale.

Sources said the groups were going to be told by representatives of the bank and the Mets to provide details on the franchise.

In the opening round, Cohen submitted $2 billion in bid. He also reportedly bid $2 billion for SNY.

On the other hand, a Sports Illustrated report stated that the couple and their group of investors placed a nearly $1.7 billion bid.

The couple's investment group just received a boost of NFL talent when they added Brian Urlacher, Travis Kelce and DeMarco Murray.

Harris placed his bid alongside his Philadelphia 76ers and New Jersey Devils co-owner, David Blitzer.

The first round of bids is not binding, so those who placed them can still change their offers as the process moves along. There are at least five groups who submitted opening bids for the Mets.

Allen & Co. refused to comment, as did the spokespeople of the bidding parties.

Lopez Aims for Historic Bid with Mets

Two days earlier, the singer told "The Corp" podcast with Barstool Sports that she didn't have anything to report on the deal.

Lopez also said that, if they had gotten the team, they would be the first minority couple to buy her father's favorite Major League Baseball team. She would also be the first female owner to have bought it with her own hard-earned money.

She said: "In this day and age, that would be something that would be so amazing," reported Us Magazine.

She noted that, in every field, especially in sports institutions as the MLB that are "so American in this moment", it is important to have some diversity.

Lopez also said it is important that women get positions of power where they've earned and deserved it. She said women can contribute in a way that is "just as good" as any man on the plant.

"We still haven't given up!!" she said in a social media post, according to TMZ.

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