McClung has reportedly agreed to an Exhibit 10 contract with the Magic, as first reported by Shams Charania of The Athletic and later confirmed by Jason Beede of the Orlando Sentinel. Under this contract, McClung will have the opportunity to participate in the team's training camp. If he does not make it onto the NBA roster, which is unlikely in this case, he could receive a bonus of up to $77,500 by signing with the club's G-League team.
The Magic have 15 fully guaranteed contracts, a full roster, already on the books for the coming season. The only way for a player to be added to the Magic roster is for the club to release one of those players and eat the money (or for an injury to open a roster spot).
McClung was named G-League MVP last season averaging 25.7 points and 6.6 assists a game, shooting 36% from 3, but was not called up to the NBA by the Magic or any other team.
McClung has lived on the fringe of the NBA since entering the NBA undrafted out of Texas Tech in 2021. He has had short contacts with the Lakers, Bulls and 76ers, plus spent time in the Warriors and Magic organizations (through all that he has appeared in four NBA games for a total of 65 minutes).