Bud Selig to receive $6 million annual ‘salary’ from MLB in retirement
With no specifications as to in what capacity Bud Selig will be providing some kind of service to Major League Baseball exactly, the outgoing commissioner will receive $6 million annually from the league in some kind of quasi-pension, pseudo-salary arrangement, ESPN’s Buster Olney reports.
Usually, in most instances, when one retires, that’s when one stops receiving a salary for the job said person is retiring from … apparently, that’s not the case for Selig.
Selig, the former Milwaukee Brewers owner who will officially retire on Jan. 25 after serving as commissioner in a official capacity since 1998, earned a reported $22 million annually over the past two years as compensation, meaning that things presumably will be a lot leaner around the Selig household as the 80-year-old pensioner adjusts to retirement and a fixed income. Of $6 million.
As noted by Olney, an interactive exhibit is set to debut at Miller Park called the “Selig Experience,” which sounds similar in name to the Jimi Hendrix Experience but presumably much less psychedelic and likely will feature several photographs of Selig sticking his hand up to his ear while quizzically looking at a person asking him a question.
Rob Manfred will take over as commissioner upon Selig’s retirement. Hopefully, he learns a thing or two from his predecessor and puts 10% of his salary in savings to make sure he isn’t put in such a tight spot financially in retirement in a manner similar to Selig.
Some will likely find the revelation about just how much Selig will earn in retirement quite off-putting, but if that’s the way the system is set up, that’s the way it’s set up. It may be sad and disconcerting, but simply put, that’s how it goes in the upper echelon of Corporate America, even in baseball.
(photo credit: Jamie Squire/Getty Images)