The person spoke to The Associated Press Thursday on condition of anonymity because the deal was not officially complete.
In his seventh season Redick, a former first-round pick, was a coveted name on the trade market. A 2006 Orlando draft selection, he is averaging career highs in points (15.1) and field goal percentage (45.0).
Redick is in the final year of a three-year contract.
Ayon was acquired this summer in a sign-and-trade deal and Smith was a preseason free-agent signing.
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