"I would like to personally thank Paul for everything he has done for this team under some pretty unique circumstances," Rod Higgins, the Bobcats' president of basketball operations, said in a statement.
"We have been fortunate to have someone of his character associated with this franchise and we hope he will continue to be a valuable resource to us in the future."
Silas, 68, was named interim coach of the Bobcats in December 2010 and led that team to a 25-29 record over the remainder of the 2010-11 season. The interim title was removed from his pos ition in February of that season.
He compiled an overall record of 32-88 with the Bobcats, who have qualified for the playoffs only once.
In 11 seasons as an NBA head coach, Silas has a career record of 377-531 following stints with the Clippers, Hornets, Cavaliers, and Bobcats.
Silas was a two-time All-Star and three-time NBA champion as a player.
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