"While it's difficult to part ways with three outstanding young men who have been such an important part of this team and this community, this move provides us additional flexibility as we continue to reshape our roster into one positioned for long-term success," said David Kahn, Timberwolves President of Basketball Operations. "I want to thank Sebastian, Craig and Mark for all their contributions to this organization and wish them the best of luck moving forward. I expect them to be key parts of next season's Clippers team."
Originally selected by the Clippers with the 18th overall pick of the 2000 NBA Draft, Richardson owns career averages of 11.5 points, 5.0 rebounds and 1.6 assists in 601 career games with the Clippers, Phoenix Suns and New York Knicks. Richardson posted 10.2 points and 4.4 rebounds in 72 games for the Knicks last season before offseason trades sent him to Memphis on draft night and to the Clippers last Friday.
Madsen signed with Minnesota as a free agent prior to the 2003-04 season and averaged 1.8 points in 270 games with the Wolves over the last six seasons. The nine-year NBA veteran owns career averages of 2.2 points and 2.6 rebounds per game.
Smith played each of his first three seasons with the Wolves after being selected by Minnesota with the 36th overall pick in the 2006 NBA Draft. Smith has averaged 8.9 points and 4.5 rebounds in 233 career games, including a career-best 10.1 points per game last season.
Telfair played two seasons in Minnesota after the Wolves acquired him from Boston in 2007. The 13th overall pick by Portland in the 2004 NBA Draft, Telfair has averaged 8.2 points and 4.0 assists in 349 career games, including 9.6 points and 5.2 assists in 135 games with Minnesota.