The two sides entered an exclusive negotiating window on 10 April. Lore and Rodriguez are 50-50 partners.
In a joint statement, Jennifer Lopez and Alex Rodriguez said, "We will continue to work together and support each other in our shared businesses and projects"
Taylor, who put the teams on the market last year, said he was first approached by Rodriguez and Lore a week ago.
"All the reports are inaccurate. We are working through some things," Jennifer Lopez and Alex Rodriguez said in a joint statement.
Jennifer Lopez penned an appreciation post for her fiance Alex Rodriguez after he took to Instagram to reassure Jennifer as she lost out on a Golden Globe.
Jennifer Lopez announces engagement with former baseball star Alex Rodriguez, shares picture of her ring on Instagram
Posting a picture of their engagement rings, jennifer Lopez and Alex Rodriguez announced that they are engaged
The three-time American League Most Valuable Player will lose just over $22 million of his $25 million salary.
Sidelined since hip surgery in January, Rodriguez rejoined the Yankees five hours after the suspension in a series opener at the Chicago White Sox, scheduled to play third base and bat fourth.