Jennifer Lopez and former baseball superstar Alex Rodriguez said Thursday they`re throwing in the towel, after weeks of rumors that their relationship was on the rocks. "We have realized we are better as friends and look forward to remaining so," the pair calling off their two-year engagement said in a statement to CBS`s the Today show. "We will continue to work together and support each other on our shared businesses and projects," the statement said. 

"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." Lopez, 51, and Rodriguez, 45, became a couple nearly four years ago and last year bought a $40 million home in Miami. In March they had denied a flurry of reports declaring their break-up, saying they were "working through some things."