Jennifer Lopez, Alex Rodriguez Split: This Move Signaled Their Engagement Was Over, Report Says

Jennifer Lopez and Alex Rodriguez have called it quits just a month after rumors of their split first surfaced.

Lopez, 51, and Rodriguez, 45, confirmed Thursday via a joint statement to NBC's "Today" show that they have ended their two-year engagement. The exes also suggested that they will continue working together in their business ventures.

"We have realized we are better as friends and look forward to remaining so," they wrote. "We will continue to work together and support each other on our shared businesses and projects. We wish the best for each other and one another's children. Out of respect for them, the only other comment we have to say is thank you to everyone who has sent kind words and support."

The pair made headlines last month after rumors swirled that they had split. However, Lopez and Rodriguez immediately released a statement saying they were "working through some things," while the former MLB star shut down the breakup rumors by saying he was not single.

Rodriguez then flew to the Dominican Republic where he and his then-fiancée were photographed packing on PDA. Lopez has been filming her new romantic comedy movie, "Shotgun Wedding," in the country for the past few months.

Meanwhile, Page Six reported, citing unnamed sources, that Rodriguez's decision to become an NBA team owner was a huge hint that his relationship with Lopez was already over. The former Yankees player was said to be finalizing a deal to purchase the Minnesota Timberwolves with his close pal Marc Lore and not the singer, per the report. International Business Times could not independently verify this information.

"It was clear they had split when she wasn’t in the Timberwolves deal like she was in the Mets bid — maybe she didn’t want to move to Minnesota," the source told Page Six.

Rodriguez is expected to spend a lot of time in Minneapolis as Timberwolves co-owner if the deal is signed, the report added. Thus, he will be far from Lopez's orbit.

"She would have added a lot more glamour to the team. But when you own a team, you have to be in the city — you have to be there, you have to go to every game," the insider added.

Despite their split, unnamed sources told Page Six that Rodriguez and Lopez remain good friends and plan to do other deals together. "They love working together," one insider said.

"They will continue working in all of their business ventures together," another said. "They’ve always encouraged each other to dream big and go bigger — they’ve built something really unique together and the success of their business partnerships and goals are important to them."