The Fir Park side have added their former striker David Clarkson to their squad on an initial one-year deal after he was released by Dundee despite scoring nine goals in 2014/15.
Now Baraclough is looking to pair him with Australian international forward McDonald, who struck five times in 13 league outings after signing a shot-term agreement in February.
His contract has now expired and Baraclough told Sky Sports News HQ: “There have been ongoing conversations. Scott has had a family holiday as well.
“He enjoyed his time here. He knows what was achieved and it was important we all had a break and had our holidays. There are one or two things he is exploring and it’s one of those things where you keep the conversation alive. We’ll see where that goes.
“We’re not the only club who are having conversations but we’ve got to concentrate on other targets as well. All the pieces might not fit into place for certain targets.”
Clarkson, 29, started out at Motherwell and struck 56 times in 251 games before completing a £700,000 move to Bristol City in 2009.
He told the Motherwell website: “It’s good to get everything signed up and it’s a place I know and that is close to my heart.
“I had a meeting with the gaffer and the staff and they told me their philosophies and the way they want to take the club forward. That is something I want to be part of.
“Hopefully I can do well. First and foremost I want to get my feet in the door, get to know some of the new lads and then hopefully get some time on the pitch.”