Charles Barkley, the co-host of TNT's popular "Inside the NBA" show, will continue to be a fixture at the network where he's worked for nearly a quarter of a century.

The Naismith Memorial Basketball Hall of Famer announced he will forgo retirement and work with TNT leadership to develop new shows and additional sports content.

"I love my TNT Sports family. My #1 priority has been and always will be our people and keeping everyone together for as long as possible. We have the most amazing people, and they are the best at what they do," Barkley said in a statement released by TNT Sports on Tuesday.

Barkley's decision comes less than two months after he publicly revealed his intentions to step away from broadcasting next year.

CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM

Charles Barkley at the playoffs

Charles Barkley looks on prior to game three of the Eastern Conference Finals between the Boston Celtics and Miami Heat at Kaseya Center on May 21, 2023 in Miami, Florida.  (Megan Briggs/Getty Images)

Barkley's announcement also came amid uncertainty about TNT's future as an NBA media rights holder. 

Last month, the NBA rejected a bid from Warner Bros. Discovery (WBD) to exercise its right to match an offer from Amazon for a part of the league's 11-year, $76 billion media rights deal. Shortly after the announcement, WBD, TNT's parent company, filed a lawsuit under seal in New York County Supreme Court. 

TNT'S PARENT COMPANY WARNER BROS. DISCOVERY FILES SUIT AGAINST NBA OVER MEDIA RIGHTS, ALLEGES CONTRACT BREACH

Ernie Johnson serves as the moderator on "Inside the NBA," while Barkley, basketball legend Shaquille O'Neal, and two-time NBA champion Kenny "The Jet" Smith provide analysis. Barkley's long-term commitment will see him "exclusively contribute to TNT Sports for many years to come," per the news release.

"I’m looking forward to continuing to work with them both on the shows we currently have and new ones we develop together in the future. This is the only place for me. I have to say… I’ve been impressed by the leadership team who is fighting hard and have been aggressive in adding new properties to TNT Sports, which I am very excited about. I appreciate them and all of my colleagues for their continued support, and most importantly our fans. I’m going to give my all as we keep them entertained for years to come."

Inside the NBA crew at desk

Shaquille O'Neal, Ernie Johnson, Kenny Smith and Charles Barkley from TNT talk as a part of State Farm All-Star Saturday Night on Saturday, February 17, 2024 at Lucas Oil Stadium in Indianapolis, Indiana. (Brandon Todd/NBAE via Getty Images)

While Barkley revealed his intentions to retire at the conclusion of the 2024-25 NBA season in June, by late July, he hinted he was open to other opportunities.

When longtime sports radio and television host Dan Patrick asked Barkley whether he would follow through with his retirement plans since he was fielding calls from other media companies, the NBA legend said he was "going to listen" to what the networks had to say.

"First of all, I'd be stupid not to take their call, but the beauty of this situation… I don't have to make any decision for a year, Dan," Barkley said. "But I told all three networks, ‘Hey I’m honored. I'm flattered that y'all want to talk to me, but let's see what happens in a year." 

Disney, which is ESPN's parent company, NBC, and Amazon Prime Video were the three networks Barkley was referencing during his remarks. All three of those networks recently closed deals for the some portion of the NBA's future media rights.

Charles Barkley looks on

College basketball analyst Charles Barkley on air before the NCAA Men's Basketball Tournament Final Four championship game. (Mitchell Layton/Getty Images)

In May, the Sports Business Journal reported that Barkley has a clause in his contract that allows him to go elsewhere once the network's NBA deal runs out.

During Barkley's conversation with Patrick, he added that he anticipated being a highly sought media personality next year. However, Barkley also reaffirmed his intention to bring his broadcasting career to a close, making Tuesday's reversal even more of a surprise.

"But I don't see them (TNT) guaranteeing it to be honest because they don't really have anything. So, I think I'm going to be a free agent next summer. Right now, my intention is to retire," Barkley told Patrick at the time.

CLICK HERE TO GET THE FOX NEWS APP

While TNT did recently land the rights to some College Football Playoff games. The network will also serve as the US broadcasting home for the French Open tennis tournament beginning in 2025. The pivot to tennis and college football could be viewed as a way for the company to try and fill the hole that would be left behind from the loss of the NBA.

"Charles is one of the best and most beloved sportscasters in the history of television. I know I speak for all the members of the TNT Sports family when I say we are incredibly thrilled to share this mutual commitment to continue showcasing Charles’ one-of-a-kind talents and entertain fans well into the future," TNT Sports CEO Luis Silberwasser said in a statement. 

"We continue to add to the breadth and depth of our sports portfolio – including new properties in the College Football Playoffs, Roland-Garros, NASCAR, BIG EAST college basketball, Mountain West football, among others – and it’s fantastic to have Charles for this journey as we develop new content ideas and shows for our fans."

Follow Fox News Digital’s sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter.