The 62-year-old resigned as coach of the Sixers in April with one season and about $4.5 million remaining on his contract. However, Joshua Harris -- the majority owner of the team -- agreed to release him while keeping him on the payroll as a personal advisor for five years.
According to Collins' multi-year deal with ESPN, the four time All-Star is set to appear on "NBA Countdown" with Jalen Rose and Bill Simons and make special appearances on "Sports Center," ESPN radio and ESPN.com.
Collins was the No. 1 overall pick by Philadelphia in the 1973 NBA draft. He retired in 1981 because of injuries and went on to built a career in broadcasting and coaching.
News about Collins joining "NBA Count Down" came a couple of days before Earvin "Magic" Johnson announced he was leaving the show citing numerous commitments and a very tight schedule.
Exploding whale video goes viral on Internet
Texas principal bans speaking Spanish, stirs controversy