Britney Spears Splits from Fiance Jason Trawick (REPORT)

Britney's Engagement Ring
Check out Britney Spears' bling from Jason Trawick.
UPDATE 5:05 PM:  Britney Spears and Jason Trawick confirmed their break-up with PEOPLE: “Britney Spears and Jason Trawick have mutually agreed to end their one-year engagement,” her rep Jeff Raymond told the magazine. “As two mature adults, they came to the difficult decision to go their separate ways while continuing to remain friends.”

Spears and Trawick also released their own statements: “Jason and I have decided to call off our engagement,” Spears said. “I’ll always adore him and we will remain great friends.”

Trawick added: “As this chapter ends for us a new one begins. I love and cherish her and her boys and we will be close forever.”

Britney Spears has split with her fiancé Jason Trawick.

TMZ is reporting that the couple have called time on their relationship since getting engaged in December 2011.

Trawick, who used to be the singer’s agent, acted as co-conservator of her assets along with the singer’s father Jamie Spears.

Lawyers for the pop star are in a Los Angeles court today to discuss the status of her conservatorship, which could now result in Trawick withdrawing his interest.

It has been a dramatic week for the Princess of Pop who also confirmed today that she won’t be returning for a second season on The X Factor, Celebuzz previously reported.

“I’ve made the very difficult decision not to return for another season,” Spears said in a statement obtained by Celebuzz. “I had an incredible time doing the show and I love the other judges and I am so proud of my teens, but it’s time for me to get back in the studio.”

According to the website’s report, the couple remain friends and decided to call it quits because “they had grown apart.”

The 31-year-old mother of two started dating Trawick, 40, after her divorce in 2007 from ex-husband Kevin Federline.

A rep for Spears did not return a request for comment.

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