MLB owners have voted and approved a new five-year term for commissioner of baseball Rob Manfred through the 2024 season, the league announced Thursday. The vote comes as no surprise, as unanimous approval has been reported and expected for weeks. 

Manfred, 60, has served in the role since January of 2015, when he succeeded Bud Selig and became the 10th commissioner of baseball. Prior to his election, Manfred served for many years as MLB's COO and Selig's lead negotiator. 

Since taking over as commissioner, Manfred has overseen continued growth of revenues and the successful negotiation of a new collective bargaining agreement (CBA). Manfred has also emphasized growing the sport at the youth level and improving the game's pace of play at the major-league level. 

The owners are also expected to discuss new rules and proposals during the owners meetings in Atlanta this week. 

Going forward, Manfred will be challenged by declining attendance figures and also a Players Association that's increasingly frustrated by efforts on the part of some teams to manipulate service time. A new contract ensures that Manfred, barring the unexpected, will be in power when the next CBA is negotiated. Unlike the remainder of post-1994 labor history in the sport, the next CBA negotiation could be contentious and carries with it the threat of a work stoppage.