Major League Baseball team owners will cast their votes on Thursday on who to replace Bud Selig as commissioner when he steps down from his post in January 2015.

MLB Chief Operation Officer Rob Manfred, Boston Red Sox Chairman Tom Werner, and MLB Executive Vice President of business Tim Brosnan presented their plans to all 30 teams on Wednesday ahead of Thursday's balloting.

But before the owners cast their vote, the Boston Globe reported that the race is now down to Werner and Manfred after Brosnan reportedly backed out of the race.

"Major League Baseball Chief Operating Officer Rob Manfred and Boston Red Sox Chairman Tom Werner were left as the remaining candidates to succeed Bud Selig as commissioner after MLB Executive Vice President Tim Brosnan withdrew before the start of voting Thursday," Ronald Blum of the Boston Globe reported.

Under league rules, a candidate must get at least 23 votes to be named as the next commissioner.

ESPN reported that Manfred is the favorite to replace Selig as he has the support of 20 or 21 teams, while Werner has the support of at least six teams. Before his reported withdrawal, Brosnan only had one backer: the Cincinnati Reds.

MLB insider Jon Heyman of CBS Sports speculated that Thursday's meeting will either lead to Manfred being named as the Selig's successor on the first ballot or a subsequent ballot, or end in a stalemate where the owners will have to reconvene in November to cast their votes again.

New York Yankees owner Hal Steinbrenner insisted, though, that the goal is to elect Selig's replacement on Thursday. Steinbrenner declined to give a hint on his choice, but he pointed out that he wants a new commissioner who can address labor peace.

"Everybody's got their own feelings, and the owners are talking to each other, the way we do with any major decision," Steinbrenner told the NY Daily News. "The biggest thing is always labor peace. That's never going to change. These things come around every few years and there's a lot at stake."

The 80-year-old Selig, who has run the league since September 1992, is reportedly looking forward to naming Manfred as his successor.

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