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The Latino power couple called off their engagement after almost four years together, multiple sources confirm to PEOPLE Friday.
"This has been a long time coming," a source tells PEOPLE. "They are tied in their business worlds so it's not a cut and dry breakup. It's taken a while for them to even think about untangling it all."
For more on Jennifer Lopez and Alex Rodriguez's breakup, listen below to the episode of PEOPLE Every Day.
The two were last seen on March 1 in the Dominican Republic where she's shooting a film. The New York Post's Page Six was the first to report the news.
Steven Gomillion @stevengomillion Jennifer Lopez and Alex Rodriguez
Earlier on Friday, the former New York Yankee shared a solo selfie atop a boat.
"Don't mind me, just taking a sail-fie ⛵️," he wrote. "What are your plans for the weekend?"
Lopez, 51, and Rodriguez, 45, got engaged in the Bahamas in March 2019 after dating for two years. Over the past year, the couple has spent time at home during the pandemic with their blended families — Lopez's 13-year-old twins Maximilian "Max" David and Emme Maribel with Marc Anthony and the former MLB player's daughters Ella, 12, and Natasha, 16, with ex-wife Cynthia Scurtis,
Last month, speculation arose that Rodriguez had had an affair after Southern Charm's Madison LeCroy was accused of sleeping with a married MLB player. However, a source told PEOPLE then that the two had "never met." It's unclear if J-Rod's split has anything to do with the LeCroy rumors.
In an interview with The New York Post's Page Six, LeCroy claimed that the pair have "spoken on the phone" — in calls that she said were "innocent" — but said that they have "never met up" and "never been physical … never had any kind of anything. Just an acquaintance."
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She went on to allege that Rodriguez has "never physically cheated on his fiancée with me," claiming that she has spoken with him "randomly, but not consistent."
Back in January, Lopez opened up about having to postpone the couple's wedding twice due to the pandemic.
"We postponed the wedding twice. We had planned what we really, really wanted to do, [but] I don't know if we'll be able to re-create that," the "In the Morning" singer told Elle. "We canceled it, and since then we haven't really talked about it. There's no rush. We want to do it right when we can do it."
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Kevin Mazur/Getty Images Alex Rodriguez and Jennifer Lopez
Getty Jennifer Lopez and Alex Rodriguez
She also shared last month that the two had gone to therapy together.
"I miss being creative and running on 150," Lopez told Allure. "But Alex, of all people, was like, 'I love it. I love being at home. I love doing my Zooms. I love knowing the kids are there, and you're there all the time.' It has been actually really good."
"We got to work on ourselves. We did therapy," she explained. "I think it was really helpful for us in our relationship."
"Our anniversary month... We met again for the first time on February 1st... the first time we went out was two days later and since then there hasn't been a day we haven't been together or spoken... you keep me laughing," she captioned a post then. "I love your wickedly funny sense of humor... and how you always try to make every room you enter a more joyful one."
"I love you and all you do for me and with me....you are my funny valentine. ❤️," the singer added.