Michael Kovac, Getty Images for City of Hope
"Britney Spears and Jason Trawick have mutually agreed to end their one-year engagement," Britney's rep Jeff Raymond tells PEOPLE. "As two mature adults, they came to the difficult decision to go their separate ways while continuing to remain friends."
"Jason and I have decided to call off our engagement," Brit confirmed in her own statement. "I'll always adore him and we will remain great friends."
Jason also released a statement, saying, "As this chapter ends for us a new one begins. I love and cherish her and her boys and we will be close forever."
TMZ sources report it was a "friendly breakup" and that Britney, 31, and Jason, 41, simply "grew apart." TMZ also reports that Jason has been legally dismissed as Britney's co-conservator after less than a year, and her father, Jamie Spears, will once again be her sole conservator.
Britney and Jason's relationship began as a working one, as Trawick was the pop star's agent. They began dating in 2009, and got engaged when Jason popped the question on his 40th birthday in December of 2011.
In addition to announcing her plans to leave "The X Factor" earlier today, Britney has also just switched talent agencies. Rob Light, managing partner at Creative Artists Agency, tells Billboard that the singer has signed on with CAA. She was previously represented by WME (William Morris Endeavor), where Trawick was an agent until he left in May 2012.
News of the split follows months of speculation about the couple's romance being on the rocks, including reports that their wedding, planned for December 2012, was called off.
See Britney and Jason in Our "Celebrities' Over-the-Top Engagement Rings" Gallery
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