By @tinocochinoradio, @theeserinaperez Jennifer Lopez and Alex Rodriguez have officially called it quits releasing a statement to Today: "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." So who gets to keep the $1.8 million engagement ring?! TMZ is reporting that legally "a gift in contemplation of marriage,' and it most states the guy does get the ring back.