BIG BUD SELIG ARTICLE: The Washington Post brings a history of Bud Selig. There's this comment about the way baseball is run:

More than anything, the controversy over contraction has exposed the conflicts -- real and perceived -- embodied in a commissioner whose own franchise is affected by most every decision he makes. Under headings such as "Conflict of Interest" and "Independence," the bylaws of the National Football League, the National Basketball Association and the National Hockey League prohibit commissioners from holding a financial stake in any teams. There are no such rules in Major League Baseball.