The hour-long weekly music show will use the Players' Top 20 brand, launched last year by BBH's music marketing division, Affinity Music.
The show will be largely advertiser funded, and is searching for a headline sponsor and a celebrity presenter. The show will feature celebrity guests from various sports, who will present and discuss their favourite music.
The Players' Top 20 project saw the release of a series of CDs officially endorsed by individual football clubs, containing songs chosen by their players.
Releases so far include collections chosen by the Chelsea squad and the Scottish Premier League clubs Celtic and Glasgow Rangers.
The Players' Top 20 managing director, Simon Binns, said: "We spoke to a number of stations and felt talkSPORT was the ideal partner."
Adam Bullock, the talkSPORT sponsorship and promotion director, said: "Our listeners are passionate about music as well as sport. They are much more likely to go to gigs or buy music online than the average commercial radio listener. As such we are an ideal station for the Players' Top 20 show."
Affinity Music is also in discussion with a number of independent production companies with a view to putting the project on television.
The deal echoes a similar arrangement between Orange and the production company Endemol, which jointly produce the ITV series Orange Playlist.