The Blue Jays are getting Montero and cash in the deal while sending a player to be named later or cash to the Cubs.
Montero, 33, was hitting .286 with four home runs and eight RBI in 44 games this season for the Cubs before being designated for assignment last week. The demotion came after Montero criticized Cubs pitcher Jake Arrieta.
The catcher is a career .260 hitter, with 124 home runs and 542 RBI, in 12 seasons. He played the first nine years of his Major League Baseball career for the Arizona Diamondbacks before joining the Cubs in a 2014 trade.
"It really sucked because the stolen bases go to me, and when you really look at it, the pitcher doesn't give me any time," Montero told reporters last week. "So, it's like, 'Yeah, okay, Miggy can't throw nobody out.' But my pitcher [Arrieta] doesn't hold anybody on."
Miguel Montero ripped pitcher Jake Arrieta after the Nationals stole seven bases on the Cubs. Today, Montero was designated for assignment. pic.twitter.com/5L8nCrZsD6— SI MLB (@si_mlb) June 28, 2017
Arrieta seemed to forgive Montero for the comments.
"I love Miggy," Arrieta told MLB.com. "As you guys know, he'll say some things from the heart and he's open and honest. That's the way Miggy is. I think he regretted what he said, he felt bad about it. I told him I'm not upset or mad at him."
The Cubs are using 2016 call-up Willson Contreras as their catcher.
To the city of Chicago— Miguel Montero (@miggymont26) June 28, 2017
Dear fans, today I say goodbye to the greatest fans. I want to thank you for the support.
It was an awesome ride. Winning the World Series was simply fantastic. Thank you to my teammates - good luck to everyone of you.— Miguel Montero (@miggymont26) June 28, 2017
FanRag Sports reported Wednesday that the Blue Jays were interested in Montero to back up Russell Martin. The Cubs are responsible for the remainder of Montero's $14 million this season, which should come in at about $7 million.
Thank you also to each staff member, it was an honor to play for the Chicago Cubs organization.— Miguel Montero (@miggymont26) June 28, 2017
Chicago will always be in my heart
Chicago has lost four of its last six games.