Chicago, IL (My Sportsbook) - Major League Baseball commissioner Bud Selig has reportedly decided to step down when his current contract expires following the 2012 season.

The Chicago Tribune is reporting that Selig disclosed his decision at an owners meeting in Chicago earlier this month after a group of owners approached him about staying on past his current deal.

It's the same approach that got Selig to agree to a three-year extension as commissioner in 2008. The owners also swayed his decision to stay on past the 2006 season after he previously indicated his intention to retire.

The report said Selig wants to step down so he can pursue other interests, including writing a book and/or teaching history, which was his major in college.

The 75-year-old Selig first took over as acting commissioner in September 1992 after Fay Vincent resigned. His 17-year tenure is highlighted by impressive financial growth but also the players' strike in 1994, which wiped out the World Series, as well as a rash of well-documented performance- enhancing drug scandals.

Under the leadership of Selig, Baseball has split both the National League and American League into three divisions, implemented interleague play, added a Wild Card berth in each league and an extra round of playoffs and most recently introduced instant replay for controversial home run calls.