It says that Utah is no longer interested due to McGrady's health status and contract situation. The way I'm reading this is that Utah was not expecting both Okur and Boozer to stay for their final season, and now they are in a bit of a cash crunch and limited. They were interested in McGrady, not because of the expiring (primarily), but rather because of the insurance covering him until he's back on the court. They looked at him and realized that would probably be sooner, rather than later (if at all), so it was no longer the immediate financial help they had hoped it would be.
that's my tin foil hat take on it, anyway.
