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7:30 PM PT -- Larry Baer has released a new statement ... saying, “I am truly sorry for the pain that I have brought to my wife, children and to the organization. It is not reflective of the kind of a person that I aspire to be, but it happened and I will do whatever it takes to make sure that I never behave in such an inappropriate manner again.”

Pam Baer also released a 2nd statement ... saying, “I would like to clarify the events of today. My husband and I had an argument in public about which we are quite embarrassed."

"I took his cellphone. He wanted it back and I did not want to give it back. I started to get up and the chair I was sitting in began to tip. Due to an injury I sustained in my foot three days ago, I lost my balance. I did not sustain any injury based on what happened today. Larry and I always have been and still are happily married.”

2:36 PM PT -- MLB released a statement addressing the incident involving Baer ... saying, “Major League Baseball is aware of the incident and, just like any other situation like this, will immediately begin to gather the facts. We will have no further comment until this process is completed.”

2:09 PM PT -- Police are currently interviewing witnesses, including the person who shot the video, and are investigating the incident, TMZ Sports has confirmed.

1:47 PM PT -- Baer spoke with the San Francisco Chronicle about the incident ... saying, "My wife and I had an unfortunate public argument related to a family member & she had an injured foot and she fell off her chair in the course of the argument."

"The matter is resolved. It was a squabble over a cell phone. Obviously it’s embarrassing.”

San Francisco Giants CEO Larry Baer was involved in a physical altercation with his wife at a public park Friday ... with his wife screaming as he knocks her to the ground -- and it was all captured on video.

Multiple people witnessed Baer and his wife, Pam, in a loud verbal argument around noon on Friday at a park in San Fran. At one point, Larry was trying to pry a cell phone out of Pam's hands, which she clearly did not want to give up.

During the struggle, Larry knocks Pam out of her chair and onto the ground -- you can hear her screaming, "Oh my god. Help!"

You can see Baer walking away from the altercation with the phone in his hand -- while telling his wife, "Stop. Pam, stop."

Pam continues to repeat, "Oh my god. Oh my god."

In between video clips, the person who shot the footage tells us he got involved and helped break up the altercation. Another witness corroborated that.

Witnesses tell us police were not called to the scene. Unclear if they were contacted after the altercation. We're reaching out.

We spoke with Pam on the phone who told us, "We were having a family fight about someone in my family and that's it."

We've also reached out to Baer's camp for comment. So far, no word back.

Baer has been involved with the Giants organization for decades. He was named chief operating officer in May 1996, team president in October 2008 and CEO on January 1, 2012.

According to the Giants website, Baer and Pam co-chaired the San Francisco General Hospital Foundation Campaign Committee in support of the new hospital, which opened in 2016 as Zuckerberg San Francisco General Hospital and Trauma Center.

The couple has 4 children together.