McLemore, 24, will relocate for the first time in his NBA career after spending his first four seasons with the Sacramento Kings.
The 6-foot-6 guard out of Kansas became an unrestricted free agent when the Kings declined to tender an offer sheet worth a little over $5.3 million. Teams found McLemore intriguing on the market, and the consensus was that he still hasn't reached his potential.
The fit didn't work out in Sacramento, and the organization is now in rebuilding mode.
McLemore has averaged a career high of 9.4 points and shoots 35 percent from beyond the arc.
ESPN's Adrian Wojnarowski contributed to this report.