Granger has led the Pacers in scoring during each of the last five seasons, but he has yet to appear in a game during the 2012-13 campaign.
He suffered the injury in an offseason workout and had hoped he could play following a plasma injection in the knee. He aggravated the injury, however, while playing in an exhibition game.
Granger has appeared in 510 games during his career with the Pacers, averaging 18.2 points and 5.2 rebounds.
Notable deaths of 2014 [PHOTOS]
Michael Sam cut from the Dallas Cowboys