Report: MLB Commissioner Rob Manfred Receives Five-Year Contract Extension Through 2024

MLB owners unanimously approved Manfred's extension, which runs through 2024, on Thursday.

Rob Manfred has received a five-year contract extension to serve as MLB's commissioner through 2024, Bob Nightengale of USA Today reported on Thursday.

The 30 MLB ownership groups voted on Thursday morning to unanimously approve Manfred's extension. Manfred, 60, was elected to succeed Bud Selig in August 2014 and officially took over the role in Jan. 2015 to become the 10th commissioner of baseball. 

Under Manfred's tenure, MLB has achieved record revenues and has witnessed noteworthy changes to pace of play rules. Manfred also oversaw the negotiation of a new five-year collective bargaining agreement and has been dedicated to the expansion of youth participation and international growth. Prior to being elected as commissioner, Manfred served as MLB's Chief Operating Officer until 2013 and as the Executive Vice president from 1998-2013. He oversaw labor relations, economics, league affairs and human resources while also directing all collective bargaining with the MLBPA. 

Manfred's new contract ensures that he will still be in power when the next collective bargaining agreement is negotiated.