The Statement 

In their joint statement to TODAY, the couple said, "We have realized we are better as friends and look forward to remaining so. 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."

A Brief History

The couple have been together since 2017, getting engaged in the Bahamas in 2019. But, a lot of things got in the way of their relationship since the start of the pandemic. Namely, it was difficult for them to see each other while Lopez was working in the Dominican Republic while A-Rod stayed in Miami.

Amid these difficulties, there were reports of a breakup last month amid rumors that Rodriguez cheated. They then later denounced those reports as fake and remained a couple.

However, just last week, Lopez shared these photos to her Instagram on the set of her upcoming film Shotgun Wedding. If you'll notice, she isn't wearing a ring in these pictures, not something engaged people do very often. This began a whole new set of rumors, which were eventually confirmed by the couple this morning.

It seems the couple has split amicably, and they're doing the best thing for both of them.