Free agent Tracy McGrady has signed a contract to play for the San Antonio Spurs for the rest of the season, league sources told Yahoo! Sports.

McGrady, 33, played this season for Qingdao in the Chinese Basketball Association and averaged 25 points a game on 56 percent shooting. He worked out for the Spurs in the late summer before signing in China, but wasn't offered a contract.

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With the release of Stephen Jackson and surgery to Boris Diaw, McGrady gives the Spurs some athleticism, scoring and maybe most of all still – an effective passer.

McGrady's letter of clearance arrived from China on Monday, which allowed the Spurs to sign him. Because McGrady wasn't on an NBA roster this season and waived after March 1, he is playoff eligible.

McGrady has averaged 19.6 points, 5.6 rebounds, 4.4 assists and 1.21 steals in 32.7 minutes during his 15-year NBA career.

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