The deals would bring the two stars to Los Angeles soon after the Brooklyn Nets added Kevin Durant and Kyrie Irving. They are also the answer to the rival Los Angeles Lakers adding Anthony Davis to a team that includes LeBron James.
George, meanwhile, was said to be the key player being moved in a trade with the Oklahoma City Thunder, which would reportedly receive numerous draft picks in exchange.
Joining the Clippers would mark a homecoming for both players: Leonard is a Los Angeles native who played college basketball at San Diego State, while George is a native of Palmdale who played college ball at Fresno State.
Other teams said to be hoping to sign Leonard included the Raptors, Los Angeles Lakers, Philadelphia 76ers and New York Knicks.
The terms of Leonard’s reported deal with the Clippers were not immediately available. Details of the reported trade for George also weren't immediately available.
Leonard, 28, is a 6-foot-7 small forward who began his NBA career with the San Antonio Spurs in 2011 after being drafted by the Indiana Pacers.
This year, Leonard provided one of the top highlights of the Raptors’ championship run when he hit a game-winning fade-away jumper at the buzzer to seal Toronto’s Game 7 win over the 76ers in the Eastern Conference Finals.
George, 29, also a small forward, started his NBA career with the Pacers and is a six-time NBA all-star.