Selig became the acting commissioner of baseball in 1992, following the departure of Fay Vincent, and became the official commissioner in 1998. His retirement will be effective January 24, 2015.
In a statement released earlier today, Selig expressed his feelings for the game:
"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."
Although Selig is credited with increasing revenues throughout MLB and promoting peace between the owners and players union, he also presided over the game during one of baseball's darkest periods, the steroid era.
Over the next several months, Selig will work on a plan of action concerning his transition, which includes naming his successor. Among several names mentioned as candidates were current executives Joe Torre, Andy MacPhail and Sandy Alderson.
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