"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," J.Lo captioned the post. "We still haven’t given up!! #NY4ever."
In the singer's post, it goes more into detail about why they are "no longer pursuing the acquisition of the team."
"They are disappointed to not be a 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," the statement reads in part.
Rumors of the couple's interest in purchasing the Mets began in April, and picked up steam earlier this month when they were spotted touring the team's home stadium, Citi Field.
"In this day and age, that would be something that would be so amazing," Lopez said of potentially becoming the first woman to own a team. "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. It is important for women to have positions of power that they’ve earned, and deserve, and can contribute in a way that is just as good as any man on the planet. So of course I am for it."