Diaw's contract includes the opportunity to opt out for both NBA and European teams, so he could sign with an NBA team late in the season.
Diaw averaged just 4.6 points, 2.2 rebounds, 2.3 assists and 17.6 minutes in 73 games, including 33 starts, for the Utah Jazz last season, which was his 14th in the NBA.
Diaw helped Utah reach the second round of the playoffs in 2016-17.
The Jazz waived the 35-year-old Diaw this summer.
His $7.5 million salary would have been guaranteed if he had not been waived by July 15.
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