SBD/Closing Bell

Bud Selig Formally Announces Plans To Retire As MLB Commissioner

MLB Commissioner Bud Selig today formally declared his plans to retire when his current contract ends on Jan. 24, 2015. Fully consistent with his stated intentions since signing an two-year contract extension in January '12 to carry him to that date, Selig's planned retirement will end his tenure as commissioner after more than 22 years. Today's announcement in effect formally begins the efforts to find Selig's successor, and the league said he will soon announce "a transition plan in preparation for his retirement, which will reorganize centralized Major League Baseball management."

MLB execs declined to specify the forthcoming changes, but the transition plan could be the most significant change to the sport's senior leadership structure since the departure of league President Bob DuPuy three years ago. Industry sources, however, suggested the forthcoming transition plan will not signal a likely successor to Selig.

"It remains my great privilege to serve the game I have loved throughout my life," Selig said. "Baseball is the greatest game ever invented, and I look forward to continuing its extraordinary growth and addressing several significant issues during the remainder of my term." During Selig's tenure, annual industry revenues have more than quintupled to about $8B, labor peace has existed since '95, attendance has reached record levels, both the MLB Network and MLBAM were created, and competitive balance has improved measurably.
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