Anthony, who has not played in more than a year since being axed by the Houston Rockets, joins a Blazers side which is languishing near the foot of the Western Conference with five wins and nine defeats.
The 35-year-old Anthony has averaged 24 points across 1,064 games of his 16 season career which included spells with Denver, New York, Oklahoma City and Houston. Anthony said in a video on his YouTube channel that he was looking forward to the next chapter in his career, describing the move to Portland as a "perfect opportunity."
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