According to Arthur Staple of Newsday, it is a one-way deal worth $1.275 million.
McDonald, 28, has appeared in 24 games this season with the Islanders, scoring four goals and adding six assists, along with 25 penalty minutes. The 2003 second-round pick by Edmonton played two games with the Oilers in 2009-10 and five with Pittsburgh last season.
I've got a lot of experience and there's a lot of young guys. It's even making me excited a little more. It's kind of a new life. At my age, I feel like I know a lot of things what to do, but I just cannot do it anymore. It's a lot easier to tell them what to do because they've still got the legs and hands to do it. I just know things, but I cannot do them anymore.
— Jaromir Jagr after making his Panthers debut in a win against the Sabres on Saturday