The 79-year-old Selig has repeatedly said since 2003 that his retirement was imminent, but Thursday marked the first time he issued a formal statement.
He says he will announce a transition plan shortly that will include a reorganization of central baseball management.
Selig bought the Seattle Pilots in bankruptcy court in 1970 and moved the team to Milwaukee. He was part of the group that forced Fay Vincent's resignation.
Selig took over as acting commissioner on Sept. 9, 1992, in his role as chairman of the executive council. He repeatedly said he would not take the job full time but was formally elected commissioner July 9, 1998. He agreed to new contracts in 2001, 2004, 2008 and 2012.
More Sports Headlines
Indianapolis loses RB Bradshaw with season-ending injury 12:34 p.m. LA Galaxy’s Keane on MLS Best XI for fourth straight year 12:32 p.m. Dolphins fire offensive coordinator Lazor 10:23 a.m. Kobe Bryant says he will retire at end of season 10:21 a.m. USC names Helton permanent head coach 10:19 a.m. Georgia’s Richt still interested in coaching 10:15 a.m. Tony Stewart getting new crew chief for his final season 9:56 a.m. Wilson throws 5 TD passes as Seahawks beat Steelers 39-30
Our new comment system is not supported in IE 7. Please upgrade your browser here.