Keith Olbermann back at ESPN for the first time in 16 years as he has signed on for a weeknight show that will air at 11 p.m. ET beginning on August 26.

The 54-year-old became known as an anchor for ESPN's flagship show "SportsCenter" from 1992-1997. He left the show and the company following a falling-out, but now Keith Olbermann is back at ESPN.

This new talk show will feature a mix of perspective, commentary, interviews, panel discussions and highlights. The hour-long show airing on ESPN 2 often will follow live events and run opposite of "SportsCenter," which was where he made he original claim to fame, but now Keith Olbermann is back and it is just a different role.

"Apart from the opportunity to try to create a nightly hour of sports television that no fan can afford to miss," Olbermann said in a news release after the announcement that he is indeed back at ESPN again. "I'm overwhelmed by the chance to begin anew with ESPN. I've been gone for 16 years and not one day in that time has passed without someone connecting me to the network. Our histories are indelibly intertwined and frankly I have long wished that I had the chance to make sure the totality of that story would be a completely positive one. I'm grateful to friends and bosses -- old and new -- who have permitted that opportunity to come to pass. I'm not going to waste it."

Olbermann was suspended by ESPN for two weeks following an unauthorized appearance on Comedy Central's "Daily Show." Shortly after, Olbermann abruptly left the company to venture on with a sports talk-show on Fox Sports and then an almost 10-year stint as the host of "Countdown with Keith Olbermann" on ESPN as he branched out to a different venue completely.

He went on to be suspended by MSNBC and soon after left the network. Now he has signed a two-year contract to be back at ESPN.