The Bulls were also involved in the trade, according to a report from ESPN.
Monk averaged 6.7 points per game and shot 34.2 percent from 3-point range during his rookie season.
Former San Antonio Spurs guard Tony Parker dismissed suggestions he had an issue with Kawhi Leonard.
Tony Parker is set to end his 17-year San Antonio Spurs career, and coach Gregg Popovich paid tribute to the veteran guard.
Parker agreed Friday to leave the Spurs after 17 seasons and sign a two-year, $10 million contract with the Hornets.
Parker has spent his entire NBA career in San Antonio, but he's reportedly headed to Charlotte.
The Wizards will be Howard's fourth team in four seasons.
Kemba Walker is wanted by the Charlotte Hornets, who would like to keep the star for the rest of his career.
Walker, a two-time All-Star, averaged 22.1 points and 5.6 assists per game last season.