Major League Baseball commissioner Bud Selig is set to retire from his post on Jan. 25, with Rob Manfred set to take over as the commissioner of baseball. Friday, Major League Baseball released the following statement:
Major League Baseball Commissioner-Elect Rob Manfred today announced that he has given the sport's longtime leader, Allan H. (Bud) Selig, the title of Commissioner Emeritus, which will be effective on January 25th, when he officially retires as Commissioner. As Commissioner Emeritus, Selig will be available to advise Manfred and to assist with special projects as Manfred begins his term as Commissioner.
Manfred said: "Commissioner Selig has had an unparalleled career of decorated service to the National Pastime, and this role will allow the game to benefit from his unmatched institutional knowledge, experience and relationships. I could not ask for a finer mentor during this transition process, and I am grateful that Commissioner Selig will continue to be available to me as a resource."
Selig said: "I greatly appreciate the opportunity to stay connected to the game in this new capacity. I will be proud to stand behind Rob's vision for the future and to assist in any ways that he asks. Baseball is the greatest game in the world, and I look forward to seeing our sport flourish under Rob's leadership."
Selig has led the industry since September 9, 1992, first as Chairman of the Major League Executive Council. On July 9, 1998, he was officially elected as the ninth Commissioner in Baseball history. On September 26, 2013, he announced his intention to retire upon the completion of his contract. Manfred, currently MLB's Chief Operating Officer, was unanimously elected Baseball's next Commissioner by the 30 Major League Clubs on August 14, 2014.
That's not all, as Buster Olney of ESPN.com reports that Selig will make an annual pension of roughly $6 million.
Needless to say, the 80-year-old Selig has a pretty nice setup coming his way.