From there, Anthony will be waived and will join the team of his choice.
Chris Vivlamore of the Atlanta Journal-Constitution reported that Philadelphia is sending forward Justin Anderson to the Hawks and guard Timothe Luwawu-Cabarrot to the Thunder to complete the deal.
The trade will save the Thunder about $100 million in luxury tax, as they get rid of Anthony's almost $28 million contract for next season.
The report says the Hawks will waive Anthony and let him sign with whichever team he wants, with Houston being the frontrunner. By shipping out Anthony's $27.9 million salary and taking back less in return, the franchise will save a huge fee while losing a player who didn't fit well anyway.
In 67 games last season, Schroder averaged a career-best 19.4 points per game, in addition to 6.2 assists and 3.1 rebounds.
For the Hawks, this deal allows them to get out of Schroder's contract and commit to Trae Young at point guard while adding a possible future first-rounder. Muscala, 27, averaged 7.6 points and 4.3 rebounds in 53 games last season.