Sources told ESPN that the anticipation is the Bulls will release Anthony and he won't play for the franchise. Anthony will become a free agent if he clears waivers.
The Bulls could also hold off on releasing Anthony until the trade deadline on Feb. 7. The franchise could include Anthony in a possible one-for-one trade.
Anthony signed a one-year, $2.4 million contract with the Rockets last August but struggled to find a role in Houston's rotation. He played in 10 games and averaged 13.4 points per game with the Rockets this season before parting ways with the team in November.
The Bulls (11-36) sit at 13th in the Eastern Conference. Houston (26-19) stands in fifth in the tight Western Conference.