Keith Olbermann Is Returning To ESPN. Can He Help Himself?

The television career of Keith Olbermann can be understood as a an endless cycle of network executives first deciding his prodigious talent outweighs his considerable red flags, then coming to think otherwise. Lather, rinse, repeat.

ESPN is the latest network to run through the math and end up with a sum that suggests hiring Olbermann might not be such a bad idea. According to Variety and The New York Times, the former Current TV/MSNBC/ Fox Sports anchor will begin hosting an hour-long program on ESPN2 sometime later this year.

The gig marks Olbermann's full-time return to the airwaves more than a year after Current TV fired him as anchor and chief news officer. He also has a deal to host coverage of the Major League Baseball postseason for TBS.

It will be a homecoming of sorts. It was at ESPN that Olbermann rose to fame as the co-host, with Dan Patrick, of "SportsCenter." The show developed a cult-like following among sports fans, but, in what would emerge as a pattern, Olbermann clashed with his bosses and ultimately left the network in bad odor.

But ESPN's management and circumstances have both changed since then, and with 21st Century Fox (the broadcasting side of what was formerly News Corp .) launching two national sports channels this fall, it needs star power of the sort Olbermann can bring.

Still, the risks are obvious. As a hedge against them, ESPN reportedly inserted into Olbermann's contract a clause saying that he can't talk about politics on the air. [Update: Olbermann says the reports were erroneous and there is no "content clause" in his contract. He says his new show will stick to sports topics and only address politics when the two areas collide.]

That's a great idea, as Olbermann seems to become a different person when politics enters the equation -- less relaxed and funny, more angry and self-important.

Or, rather, it would be a great idea if Olbermann weren't Olbermann. Historically speaking, Olbermann has heard the word "no" as an incitement to take up arms against management, whether it was his bosses at MSNBC slapping him on the wrists for making political donations or the higher-ups at Current telling him he couldn't stream his show online.

One suspects the no-politics clause will serve as little more than a red cape dangled in front of Olbermann's eyes. Within six months, I predict he'll be testing the network's willingness to enforce it. At that point, it will be up to ESPN to decide whether this chapter of the Keith Olbermann saga ends like the others have.