Monroe is now an unrestricted free agent.
Monroe averaged 11.2 points and 8 rebounds in 23 minutes per game with Phoenix and will remain on waivers for 48 hours before officially becoming a free agent, should he go unclaimed.
Boston can utilize it’s $8.4 million disabled player exception that was received after the Gordon Hayward injury.
New Orleans is looking for help in the paint after the injury to DeMarcus Cousins and could be an appealing destination for Monroe, who is a New Orleans native.
Monroe, 27, was making $17.8 million in the final year of his contract.
Monroe has averaged 13.9 points and 8.7 rebounds during his career with the Detroit Pistons, Bucks and Suns.