Updated

The Los Angeles Clippers have reportedly acquired shooting guard J.J. Redick from the Milwaukee Bucks while shipping point guard Eric Bledsoe and veteran forward Caron Butler to the Phoenix Suns in a three-team trade agreed upon on Tuesday.

In addition to Redick, an unrestricted free agent who will receive a four- year, $27 million contract as part of a sign-and-trade transaction according to Yahoo!Sports, Los Angeles will land swingman Jared Dudley from the Suns. The Bucks will get a pair of future second-round draft choices -- one from each team -- for their role in the deal.

The trade cannot officially be announced until July 10, when the NBA's moratorium on player transactions is lifted.

Los Angeles was expected to shop Bledsoe, a talented 23-year-old who performed well when stepping in for an injured Chris Paul for part of last season, with Paul having accepted a five-year, $107 million maximum contract extension to stay with the Clippers and play for new head coach Doc Rivers.

Seeking outside shooting help, Los Angeles reeled in a player with a 39 percent career accuracy from 3-point distance in Redick, who averaged career bests of 14.1 points and 3.8 assists per game while splitting last season with the Bucks and Orlando Magic.

The 6-foot-7 Dudley should help in that department as well, as he's hit on 40.5 percent of his trey attempts over seven NBA seasons. The 28-year-old averaged 10.9 points, 3.1 rebounds and 2.6 assists as Phoenix's primary two guard in 2012-13.

Bledsoe averaged 8.5 points, 3.0 rebounds and 3.1 assists in nearly 20 1/2 minutes per game as Paul's understudy last season, his third in the league. The Kentucky product goes to another team with a crowded situation at point guard, however, as returning starter Goran Dragic led the Suns in scoring this past campaign and is under contract for three more years.

Butler is a two-time All-Star who gives the Suns both a veteran presence and a contract that expires at the conclusion of the upcoming season, though the 33- year-old's 10.4 points per game in 2012-13 was his lowest scoring average since a 9.2 points-per-game clip with Miami in 2003-04.