Drafted in 1989, the Serbia-Montenegro centre was one of first European stars to make a major impact in the NBA.
He joins Kareem Abdul-Jabbar and Hakeem Olajuwon as the only NBA players with 13,000 points, 9,000 rebounds, 3,000 assists and 1,500 blocked shots.
Divac, 37, had back surgery in January, and played in 15 games last season. "I didn't have fun anymore," he admitted.
He had career averages of 11.9 points and 8.3 rebounds in 15 previous seasons - seven with the Lakers, two with Charlotte and six with Sacramento.
"I'm happy," said Divac, sitting next to his wife, Ana. "When I look back, it was a wonderful career. It was a great ride for me."
He helped Yugoslavia to silver medals at the 1988 and 1996 Olympics, and led Serbia-Montenegro to a gold medal at the 2002 World Championships.
"We tried to open the door for other guys," he said.
"When I came in the NBA, it was more a US game. Now you can watch the NBA anywhere in the world."
In his new job, Divac will evaluate European talent, scout on the West Coast and participate in pre-draft meetings.
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