Olbermann will premiere on Aug. 26 and will air at 11/10c, focusing on news stories and panel discussions related to the day's sports stories, according to ESPN.
"Keith brings a blend of editorial sophistication and unpredictability — you can never be sure what you'll get," ESPN President John Skipper said in a statement. "Olbermann on ESPN2 gives viewers the quality late-night complement to ESPN's SportsCenter in the same way we've developed distinct show options across our networks the rest of the day."
Added Olbermann: "Apart from the opportunity to try to create a nightly hour of sports television that no fan can afford to miss, 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."