Major League Baseball commissioner Rob Manfred has been granted an extension to run the league until January 25, 2029, according to ESPN.
All 30 of MLB's owners voted to extend the 64-year-old's tenure for four more years, as his current contract ends in 2025.
The renewal comes amid a resurgence of the sport's popularity, where the league raked in a record revenue of $10.8 billion during the 2022 season.
Manfred was involved with the MLB for the first time in 1987 when he worked during the collective bargaining and as an outside counsel for the owners in the 1994-95 MLB strike.
He then officially joined the MLB full-time in 1998, serving the role of Executive Vice President of Economics and League Affairs. In September 2013, Manfred was named the league's Chief Operating Officer.
Less than a year later, league owners selected Manfred as the tenth MLB commissioner in August 2014, taking over the retiring Bud Selig's post in January 2015.
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Financial compensation for MLB Commissioner
Financial terms of the new deal were not disclosed, but it has been reported that Manfred made about $25 million per year during his previous deal, including bonuses, according to Front Office Sports.
It is less than what Roger Goodell is reported to earn annually as the commissioner of the NFL at $64 million.
On the other hand, Manfred's MLB compensation is higher than those of NBA Commissioner Adam Silver and NHL Commissioner Gary Bettman, who both receive an estimated yearly salary of $10 million.
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