The Blazers previously attempted to acquire Anthony when he was playing for the New York Knicks, according to ESPN. Portland president of basketball operations Neil Olshey and Anthony's agent, Leon Rose, remained in contact about Anthony since this preseason.
Discussions between the sides heated up over the last two days, and head coach Terry Stotts and Olshey spoke directly with Anthony on Thursday before reaching an agreement, according to ESPN.
With a 4-8 record and multiple injuries to their front court, the Blazers opted to sign the 35-year-old Anthony. He hasn't played since November 2018, when the Houston Rockets decided he was no longer in their long-term plans. He has been a free agent since February.
Anthony will join Portland on its upcoming six-game road trip, according to ESPN. The Blazers open that trip with a matchup against the San Antonio Spurs on Saturday night.
Anthony, a 10-time All-Star and six-time All-NBA player, has played for the Oklahoma City Thunder, Denver Nuggets, Knicks and Rockets in his illustrious career. He has averaged 24 points, 6.5 rebounds and three assists per game.