Tracy McGrady is finalizing a one-year contract with Qingdao of the Chinese Basketball Association, according to sources.

McGrady was unsuccessful in trying to secure a guaranteed NBA contract for this season and decided against trying to make a roster in training camp.

McGrady is still considered a popular player in China due in part to his long tenure as Yao Ming's teammate with the Rockets.

McGrady worked out for both the Knicks and Spurs within the past month.