Deng's hand injury meant that Great Britain basketball was forced into insuring the NBA All-Star for a sum in the region of £300,000.
GB returned to England on Sunday after losing all five matches at their training camp in the US, against Nigeria and twice each against Lithuania and Russia.
They play France and Spain away this weekend, before facing Portugal twice and the USA on home soil later in July.
Team GB need to finish in the top of four of their group to qualify for the knock-out stages of the Olympic competition. As well as Spain, ranked second in the world, Group B also contains Australia and China who are both in the top 10.
London 2012 will be the first time that Britain has been represented in men's basketball at the Olympic Games since 1948.
Squad: Kieron Achara, Robert Archibald, Eric Boateng, Dan Clark, Luol Deng, Joel Freeland, Kyle Johnson, Andrew Lawrence, Mike Lenzly, Pops Mensah-Bonsu, Nate Reinking, Andrew Sullivan.
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