Major League Baseball commissioner Bud Selig formally announced his retirement on Thursday afternoon. Jon Heyman of CBSSports.com first reported the news. The retirement will take effect on January 24, 2015. “It remains my great privilege to serve the game I have loved throughout my life," said Selig in a statement. "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.†Selig, 79, has insisted he will retire following the 2014 season for some time now. It's not the first time he has hinted at retirement either. In 2006, Selig announced he would retire following the 2009 season. He then signed a new three-year contract in 2008 and said he would retire following 2012. A new two-year contract followed that. Source: CBS Sports
