The Cavs talked to the Pacers and Nuggets on a three-team trade that would send George to Cleveland and All-Star power forward Kevin Love to Denver, ESPN reported Sunday.
The 27-year-old George informed the Pacers recently he won't resign with the team and plans to become a free agent after next season.
Love, 28, has two guaranteed seasons remaining on his contract, worth $46.7 million, and a player option for $25.6 million in 2019-2020.
The Cavaliers engaged the Nuggets as a possible third team to facilitate a trade for George on draft night Thursday, but a source told Cleveland.com the discussion was "nothing serious" and "very unlikely" to happen now.
According to ESPN, the Cavaliers don't plan to abandon their trade pursuit of George, believing potentially winning a championship next season alongside LeBron James is the one scenario that could convince George to give up his desire to join the Los Angeles Lakers as soon as possible.
George, who averaged a career-best 23.7 points last season, has a major preference in joining the Lakers as he grew up in Southern California.
Anthony has a full no-trade clause in his contract and Knicks president Phil Jackson repeatedly says his desire is to trade the All-Star forward to a team in position to contend for an NBA title.