Wendy Selig-Prieb, Selig's daughter who has served as the team's president since her father assumed the role of commissioner in August 1998, made the announcement at news conference at Miller Park.
During the news conference, Selig-Prieb also attempted to assure fans that the club, which has been in Milwaukee after spending its inaugural 1969 season in Seattle, would not be relocated.
While Selig has been able to avoid any true potential conflict of interest with the Brewers since becoming commissioner, Selig-Prieb's tenure as the head of the club has been an unsuccessful one.
Despite the opening of Miller Park in 2001 and hosting the All-Star Game the next season, the Brewers have been riddled by controversy off the field and futility on it.
Jeb Bush 'thinking about running for president' in 2016
Avril Lavigne denies racism in 'Hello Kitty' music video