Omri Casspi

Former first-round pick Omri Casspi is scheduled to officially announce his retirement from the NBA at a news conference in his native country of Israel on Sunday evening. 

Casspi signed a contract Tuesday with Israeli club Maccabi FOX Tel Aviv, John Askounis of Eurohoops.net reports.

Casspi (knee) was waived by the Grizzlies on Thursday, Michael Wallace of the Grizzlies' official site reports.

An MRI revealed Friday that Casspi has a tear in his right meniscus that will require surgery.