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NBA free agency update: Eric Bledsoe reportedly traded to Suns in three-team deal

07.03.13 at 1:10 pm ET

With Chris Paul locked up, the Clippers reportedly made another move to acquire two scorers Tuesday by trading for Bucks guard J.J. Redick and Suns swingman Jared Dudley as a part of a three-team deal. The Clippers sent Eric Bledsoe and Caron Butler to the Suns in the trade while the Bucks acquired two second round picks — one from the Clippers and one from the Suns.

Redick is expected to sign a four-year, $27 million deal in the sign-and-trade scenario. The former Duke star averaged 14.1 points, 3.8 assists and 2.2 rebounds in 30.5 minutes per game last season, and likely will play shooting guard along with the newly re-signed Paul. Dudley, who played at Boston College, averaged 10.9 points and 3.1 rebounds and 2.6 assists in 27.5 minutes last season.

Bledsoe should get a chance to be a regular starter for the first time in his career. Bledsoe averaged 8.5 points and 3.1 assists in 20.4 minutes per game off the bench last season. Butler, who started all 78 games he played last season, averaged 10.4 points on 38.8 percent 3-point shooting in 24.1 minutes per game.

According to Yahoo! Sports writer Adrian Wojnarowski, new Suns general manager Ryan McDonough tried to get Bledsoe as a part of the Kevin Garnett trade talks at the February trade deadline when McDonough was the assistant GM of the Celtics, and he finally got his guy. With a young point guard in Bledsoe and a young center in Alex Len, the Suns have started their rebuilding effort.

Wojnarowski also noted that the Bucks had no chance to re-sign Redick after the season, so a sign-and-trade that earned them two draft picks was the best-case scenario.

The Timberwolves made some big moves Tuesday, locking in Kevin Martin and Chase Budinger to contracts. Martin, who agreed to a four-year, $28 million deal, according to multiple reports, averaged 14.0 points in 27.7 minutes per game last season. He did not start a game with the Thunder after starting nearly every game with the Rockets and Kings between 2006 and 2012.

Budinger, who spent last season in Minnesota, signed a three-year, $16 million deal according to multiple reports. Budinger, who missed most of the season with a knee injury, averaged 9.4 points and 3.1 rebounds in the 23 games he played.

The team that pushed the Heat to Game 7 in the Eastern Conference finals reportedly re-signed one of its key pieces Tuesday, as David West agreed to a three-year, $36 million deal with Indiana, according to Wojnarowski. West, who will be 33 next season, averaged 17.1 points and 7.7 rebounds per game in 2012-13. On the same day, the Pacers reportedly withdrew a qualifying offer worth around $4.1 million from Tyler Hansbrough, who will become a free agent.

Hansbrough was not the only one who had an offer pulled away from him Tuesday, as the Kings withdrew a four-year, $56 million from Andre Iguodala, according to USA Today. Iguodala, who is still being pursued by the Pistons, Warriors, Rockets, Hawks, Mavericks and Nuggets, tweeted his reaction after the deal was pulled back, calling it “motivation.”

The pursuit of Dwight Howard continued Tuesday, as the Lakers and Mavericks both made their pitches to sign the NBA’€™s top remaining free agent. Howard now has to decide between those two teams plus the Rockets, Warriors and Hawks, who made their pitches earlier in the week. He will reportedly be going to Colorado or Montana to contemplate his decision.

Comcast Sports Net reported that the Wizards re-signed Martell Webster to a four-year, $22 million deal Tuesday. While the Wizards just selected Otto Porter with the third overall pick, Webster will return to Washington after shooting 44.2 percent from 3-point range last season.

Former Celtics guard Tony Allen announced he re-signed with the Grizzlies via Twitter Tuesday. Multiple reports confirm that Allen inked a four-year, $20 million deal with Memphis. Allen averaged 8.9 points, 4.6 rebounds and 1.5 steals with the Grizzlies last season. The Grizzlies also reportedly reached a three-year, $3 million deal with Jon Leuer, who averaged 2.0 points and 1.3 rebounds in 6.7 minutes per game with Memphis last season.

Tiago Splitter is on the verge of signing a four-year, $36 million deal with the Spurs according to Wojnarowski, as he will likely be returning to the team that selected him in the first round of the 2007 NBA draft. Splitter had a breakout season in 2012-13, starting 58 games and averaging 10.3 points, 6.4 rebounds and 24.7 minutes per game last season. It appears Manu Ginobili will be returning to San Antonio as well, as he announced he signed a two-year deal with San Antonio via Twitter Wednesday.

The Bulls waived veteran Richard Hamilton Tuesday, according to Ken Berger of CBS Sports, and will pay him $1 million rather than guarantee him a $5 million salary for the 2013-14 season. Hamilton, 35, averaged only 9.8 points and 21.8 minutes per game last season. He became a spare part to the team after Chicago agreed to a deal with his replacement — Mike Dunleavy — on Monday.

Read More: Andre Iguodala, Eric Bledsoe, J.J. Redick, Jared Dudley