Collins has one year left on his original four-year deal worth $4.5 million. He steps down after a season so full of promise unraveled starting with the knee injury to center Andrew Bynum. The Sixers went 34-48 and missed the playoffs for the first time in his three seasons.
The decision was announced by owner Josh Harris Thursday.
Collins wanted no part of what is expected to be a long rebuilding process from the bench and will instead add his input from the front office.
The Sixers picked up the option on Collins' contract for the 2013-14 season in training camp and he said then he wanted to remain with the organization in some capacity when his coaching career is over. It's over earlier than expected.
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