9:26am: ESPN.com's Chris Broussard tweets that McGrady may end up playing in China, but signing with an NBA contender remains his first choice, and he won't rush into a decision.
9:21am: Despite receiving some interest from the Spurs, Bobcats, and Knicks, unrestricted free agent Tracy McGrady is still looking for work, with NBA training camps underway. According to a report from QQ.com (Chinese link; translation via HoopsHype), McGrady's most aggressive suitor may not be an NBA club, but a team from the Chinese Basketball Association. The Qingdao Doublestar are said to be in touch with the seven-time All-Star, in an effort to bring him overseas.
According to the QQ.com report, McGrady has previously been courted by Chinese teams, but turned down their advances for a number of reasons, including proximity to his family. However, it appears he's at least considering the idea of signing with Qingdao. There are some obstacles on both sides — Qingdao has concerns about McGrady's injury history, and questions about whether he'd adjust well to CBA travel, which isn't as comfortable as in the NBA. Salary is, of course, also expected to be an issue, though the report suggests the 33-year-old's asking price wouldn't be exorbitant.
As we saw during last year's lockout, the salaries that NBA veterans can earn from teams in China aren't insignificant. Kenyon Martin signed a $2.6MM contract, about double what he would have earned on the veteran's minimum in the NBA. If McGrady can't find an NBA team willing to offer more than the non-guaranteed minimum, the CBA may be his most lucrative option.