Bud Selig, who took over the role of commissioner of Major League Baseball in 1992, is set to announce that he will step down at the end of the 2014 season. Below is the official release put out by the MLB on Thursday afternoon.


Baseball Commissioner Allan H. (Bud) Selig formally announced today that he will retire upon the completion of his current term, which runs through January 24, 2015.

Commissioner Selig said: "It remains my great privilege to serve the game I have loved throughout my life.  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.

"I am grateful to the owners throughout Major League Baseball for their unwavering support and for allowing me to lead this great institution.  I thank our players, who give me unlimited enthusiasm about the future of our game.  Together we have taken this sport to new heights and have positioned our national pastime to thrive for generations to come.  Most of all, I would like to thank our fans, who are the heart and soul of our game."

Commissioner Selig will announce shortly a transition plan in preparation for his retirement, which will reorganize centralized Major League Baseball management. 

Selig has led Major League Baseball since September 9, 1992, when, as Chairman of the Major League Executive Council, he became interim Commissioner.  He was unanimously elected Baseball's ninth Commissioner on July 9, 1998.