I still wonder how complete it was, and if the process allowed it to be disproven as it may in a court of law. Say just for for example you have written testimony but you aren't allowed to cross-examine, who knows? As far as money, ain't like he's broke, and the legal costs already probably exceed what he may or may not lose. Basically, by his fighting this, he's risking a lot more than just a year's salary.
But agreed that no-one comes out looking particularly good in this, and if Selig is on a mission to 'clean up baseball', then he should also openly address the times when he knowingly looked the other way. If baseball really is that important, then man up as well.