According to a report from AndTheFoul.net (and confirmed here, via GMehl in the comments), Jonny Flynn, a camp invite with the Pistons during the preseason and former lottery pick, has signed with Melbourne in Australia:
A strong rumor picking up some steam is that the Tigers have signed former Blazer and Timberwolves guard Jonny Flynn, the team is expected to make an announcement some time this week. It is understood that Flynn will have an NBA opt out clause if he does sign with the Tigers.
23 year old Jonny Flynn will be the highest NBA draft pick to ever play in the NBL.
I obviously am not an expert on Australian basketball, but I have covered a few guys from Michigan over the years who played their after college and put up pretty big numbers. I expect Flynn will quickly become a big star there. The other Pistons camp invite this year, Terrence Williams, signed in China last week.