BEVERLY HILLS, CA - JULY 24: TV Personality Keith Olbermann speaks onstage during the Olbermann panel at the ESPN portion of the 2013 Summer Television Critics Association tour at the Beverly Hilton Hotel on July 24, 2013 in Beverly Hills, California. (Photo by Frederick M. Brown/Getty Images)
Frederick M. Brown—Getty Images

Keith Olbermann is exiting ESPN once again.

The television personality, who rejoined the sports network in August 2013, won’t be renewing his deal to anchor his ESPN2 program, a source confirmed to The Hollywood Reporter. His deal is complete at the end of July and he is expected to appear on the network until the conclusion of that deal.

Sources say that ESPN management made Olbermann an offer to take his show to the network’s headquarters in Bristol or to the Los Angeles facility but was rebuffed. This was a cost-saving measure, with Olbermann’s show produced out of the network’s Times Square studio.

Not having that show being produced in Times Square will save the network roughly $40 million, say sources.

Olbermann’s impending departure follows a THR report on July 1 detailing the anchor’s “commentary” in his segments as a point of contention in his contract negotiation with the network.

“Keith is a tremendous talent who has consistently done timely, entertaining and thought-provoking work since returning to ESPN,” the network said in a statement. “While the show’s content was distinctive and extremely high quality, we ultimately made a business decision to move in another direction. We wish Keith nothing but the best and trust that his skill and ability will lead him to another promising endeavor.”

This article originally appeared on The Hollywood Reporter

More from The Hollywood Reporter:

ESPN Wants Keith Olbermann to Quit Doing “Commentary”

Movies Blog: Heat Vision

Contact us at editors@time.com.

Read More From TIME

EDIT POST