CBS Sports' Jon Heyman reported that if Sanchez gets through waivers, the White Sox will offer the Rule 5 selection back to his former team, the Los Angeles Angels.
The White Sox, who do not discuss waivers publicly, declined to either confirm or deny the move.
Sanchez was selected in the Rule 5 draft this winter with the idea that he would be an inexpensive option as a utility man. He made the team out of spring training in that role, but went on the disabled list April 14 because of a lower back strain.
Sanchez began a rehab assignment at Triple-A Charlotte last week, but his future with the White Sox was put in doubt once Gordon Beckham started playing shortstop on his own rehab assignment.
Beckham has apparently shown enough in a few games at shortstop, his former position in college, for the White Sox to consider him a capable option there on the infrequent occasion that Alexei Ramirez needs a day of rest. Otherwise, Beckham will spend the majority of his time at second base.
There is no timetable on when Beckham will return to the White Sox, but it is expected to happen by the time the team leaves next Thursday night on a six-game West Coast road trip.
One potential move the White Sox could make with Sanchez's departure is to add reliever Ramon Troncoso to the 40-man roster so the right-hander could help bolster the bullpen. Troncoso, who has four years of major league experience with the Los Angeles Dodgers, has a 1.50 ERA and six saves at Charlotte in 16 appearances (18 innings).