MLB chief operating officer Rob Manfred was elected baseball's 10th commissioner Thursday and will succeed Bud Selig in January.

The team owners were deciding between Manfred and Red Sox chairman Tom Werner on the last day of their quarterly owners meetings in Baltimore. Manfred fell one vote short of the 23 votes he needed for a three-quarters majority in initial voting, but, after much back and forth, was eventually elected unanimously by all 30 owners.

According to reporting by the New York Daily News, the Blue Jays, Red Sox, White Sox, Nationals, Angels, Athletics, Diamondbacks, and Reds were the eight teams voting against Manfred initially.

Manfred and Werner were selected as finalists for the position last week along with MLB vice president of business Tim Brosnan, who dropped out of consideration shortly before Thursday's vote.

Manfred, 55, had long been viewed as the favorite to succeed Selig, who promoted him to the chief operating officer position in September. He had spent the previous 15 years as MLB's executive vice president of labor relations, working closely with Selig.

"I am tremendously honored by the confidence owners showed in me today," Manfred said at his introductory press conference. "I have very big shoes to fill."

Werner has been a member of the Red Sox ownership group for 12 years after previously owning the San Diego Padres for more than a decade. Before he got into baseball, he was a TV executive, helping create sitcoms like "Mork & Mindy," "Bosom Buddies," "Soap" and "Taxi" before co-founding The Carsey-Werner Company, which created a number of hit sitcoms, including "The Cosby Show," "Roseanne" and "That '70s Show."

Selig, who is retiring at age 80 after 22 years as commissioner, will step down at the end of his term on Jan. 24, 2015. However, he is expected to remain involved in baseball in some limited capacity even after retiring as commissioner.