The Los Angeles Clippers have reached an agreement in principle to trade guard Quentin Richardson to the Minnesota Timberwolves for Sebastian Telfair, Mark Madsen and Craig Smith, leagues sources said Monday.

The trade is expected to be finalized later Monday. The Clippers had previously been in negotiations with free agent guards Ramon Sessions and Allen Iverson.

Telfair is signed thru 10/11:  09/10:   $2.5M    /   10/11   $2.7M

Madsen: is signed thru 09/10:   $2.84M

Smith:  is signed thru 09/10    $2.5M

Source:  Yahoo Sports

Edit:  Telfair has a player option for 2010/2011