Bud Selig to step down after 2014 season

NEW YORK (FOXSports.com) - Major League Baseball Commissioner Bud Selig will announce Thursday that he is officially retiring when his contract ends on Jan. 24, 2015, FOX Sports Insider Ken Rosenthal reports.

Selig has long insisted that he would step down when his current deal ends.

Selig has been in charge of MLB since 1992, first as an interim commissioner and then permanently in 1998.

By not staying on longer, Selig will fall short of surpassing Kenesaw Mountain Landis as the game's longest-serving commissioner.