League sources told The Athletic that the Nets eventually plan to waive Monroe. The Nets will send cash considerations totaling $110,000 to the Raptors in the deal. Toronto also frees up another roster spot as it looks toward the buyout market.
Monroe signed a one-year, $2.2 million deal with the Raptors on Aug. 10, 2018. Toronto head coach Nick Nurse rarely used the big man, as he averaged 11.1 minutes per game in 38 contests playing behind Jonas Valanciunas and Serge Ibaka.
Monroe is averaging a career-low 4.8 points per game and 4.1 rebounds this season.
Toronto also sent Malachi Richardson to the Philadelphia 76ers on Wednesday for cash considerations.