L.A. is looking to shed salary and restock its draft picks, Howe adds.
Cooks is under contract through the 2023 season with a cap hit of $16.8 million in 2020.
The wideout caught 42 passes for 583 yards and two touchdowns last season. He missed two games with his fourth concussion since 2018, leading to fears he might need to retire.
Cooks joined the Rams in a 2018 trade that included a first-round pick going the other way.