NEW YORK -- Former major league star Alex Rodriguez and fiancee Jennifer Lopez have backed out of the bidding to purchase the New York Mets amid a report that the Wilpon family is finalizing a deal with billionaire hedge fund manager Steve Cohen.
Rodriguez, who is currently an analyst for ESPN, announced Friday night that despite "a fully funded offer at a record price," their group was pulling its offer.
"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," the celebrity couple said in a statement.