McGee's management said here Wednesday he would be allowed to compete at the world track titles next August in Perth, Australia.
The French outfit had pursued McGee for several weeks following his impressive performances at last July's Atlanta Olympics, where he was third in the 4000m individual pursuit and a member of the 4000m teams pursuit squad that also won the bronze.
McGee apparently was going to refuse the offers as late as last week, until the French team came back with further incentives including allowing him to maintain his track commitments through next year.
"It must rate as the best-ever first-up offer to an Australian cyclist," the rider's manager Kerry Ruffels said.