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Alex Rodriguez backs out of bid for New York Mets

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Former major league star Alex Rodriguez and fiancee Jennifer Lopez backed out of the bidding to buy the New York Mets.

The bid cancellation comes as the Wilpon family reportedly is finalizing a deal to sell the team to billionaire hedge fund manager Steve Cohen.

Cohen is expected to finalize a deal in the coming days, according to media reports.

Read more from The Associated Press.

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