Redick leaves the 76ers after two seasons in Philadelphia.
New Orleans is also close on coming to an agreement on a deal with veteran big man Derrick Favors, sources tell ESPN on Sunday.
Redick's ability to spread the floor with his 3-point shooting played an immense part in the Sixers turnaround for the past two years. Redick shot 39.7% on 3-pointers last season, which freed All-Star center Joel Embiid. His shooting became even more important for the Sixers once the team traded Robert Covington and Dario Saric to Minnesota for Jimmy Butler.
Redick averaged a career-high 18.1 points per game last season, including 63 starting assignments.