The person spoke on condition of anonymity Monday night because neither side has made an official comment.
The seven-time All-Star has been asking for more playing time as he tries to come back from offseason microfracture surgery on his left knee. He left the team and returned to Houston over the weekend.
The Houston Chronicle first reported Monday night that McGrady's representatives asked for a trade.
McGrady has played in six games since his season debut on Dec. 15. Houston coach Rick Adelman had limited him to only 7-8 minutes since then. McGrady is due to make about $23 million this season.