The 23-year old Colombian was initially on loan to the Sounders but brilliant performances in the 2009 and 2010 MLS seasons, scoring 22 goals in 56 matches, prompted Seattle to buy his contract from Deportivo Cali and then offer him Designated Player status.
Hanauer said it was a great move by the club and was thrilled that Montero was so keen to get on board permanently.
"Soccer is a sport where there is a lot of movement," Hanauer said. "And it's not just an American game: The movement is global; the game is global.
"Again, we communicate very well and very regularly with Fredy, and if at any time there is an opportunity that is the right opportunity for Fredy and the right opportunity for the Sounders and the league, we will sit down and talk about it like we have in the past.
"For now, we are very, very happy that Fredy is going to be here for some number of years."