Point guard Milt Palacio passed his physical in Utah on Thursday and later signed a contract to play for the Utah Jazz, team senior vice president of basketball operations Kevin O'Connor announced Thursday afternoon.
It was reported in Thursday's Deseret Morning News that the signing of the former Toronto Raptors player would happen once the physical was completed. Financial terms were not disclosed.
Palacio, 6-foot-3 and going into his seventh NBA season at age 27, gives the Jazz some veteran leadership at the point, where rookie Deron Williams, the No. 3 overall choice in the June NBA Draft, is expected to play a fair number of minutes.
Utah also hopes to retain point Keith McLeod, who played for the Jazz last season and is a restricted free agent, meaning the Jazz have the right to match any offer sheet he presents.
Palacio played in 80 games for Toronto last season. He had four starts and averaged 5.8 points, 3.5 assists and 1.7 rebounds in 19.2 minutes per game.
The Colorado State product was not drafted but signed as a free agent with the Vancouver Grizzlies in September 1999.
He has played in 399 career games for five teams (Vancouver, Boston, Phoenix, Cleveland, Toronto).