Earlier in the day, D-backs chief baseball officer Tony La Russa denied that the team had agreed to a deal with the Dodgers involving Montero only to have it rejected by Arizona ownership.
Montero batted .243 in 136 games last season, hitting 13 home runs and driving in 72 runs.
The 31-year-old is owed $40 million over the next three years and by moving him, the D-backs could provide the team with flexibility to add either another starting pitcher or another bat for the lineup.
Moving Montero would leave the D-backs with backup Tuffy Gosewisch, an excellent defender who hit .225 last year.
Steve Gilbert is a reporter for MLB.com. Read his blog, Inside the D-backs, and follow him on Twitter @SteveGilbertMLB. This story was not subject to the approval of Major League Baseball or its clubs.