Bud Selig

Bud Selig will step down from his post as Commissioner of Major League Baseball following the 2014 season, the MLB Public Relations team announced on Twitter Thursday.

Selig, who has held the position for more than two decades, will retire when his term ends on January 24, 2015. Selig helped usher in a new era for the sport by implementing interleague play, the expansion of the playoffs and the Wild Card. Most notably, Selig made strides to put an end to what has been called the "steroid era" of baseball by enforcing more drug testing and issuing harsher penalties for those found in violation of the league's rules against performance enhancing drugs.

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"It remains my great privilege to serve the game I have loved throughout my life," Selig said 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."

Before becoming Commissioner, Selig was the team owner and team president of the Milwaukee Brewers.