The Clippers pulled the trigger today with their main trade asset:

Eric Bledsoe and Caron Butler will go to the Suns, Jared Dudley and JJ Redick to the Clippers and 2 2nd-round picks to Bucks, sources tell Y

— Adrian Wojnarowski (@WojYahooNBA) July 2, 2013

In the sign and trade scenario, Redick will get a four year, $27 million deal with the Clippers, sources tell Y! Sports.

— Adrian Wojnarowski (@WojYahooNBA) July 2, 2013

With Redick’s new $6 million/year salary and Dudley’s $4.25 million/year on the books, the Clippers are in essentially the same cap situation as before the trade (Butler/Bledsoe were scheduled to make ~$10.5 million next season). This means the Clippers are still at ~$65 million in total payroll and can use the full Mid-Level Exception, should they choose to.

More reactions/analysis to come.