The Timberwolves site has an annoucement of the trade with the Clippers as well as audio from David Kahn’s conference call with the media regarding the deal.

The Minnesota Timberwolves today announced the team has traded Mark Madsen, Craig Smith and Sebastian Telfair to the L.A. Clippers in exchange for 6-6 guard/forward Quentin Richardson.

“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.”