In exchange, the trade sent power forward James Johnson, small forward Wesley Iwundu and a second-round draft pick to the Pelicans.
Redick is almost at the end of his career and it was known that he had been trying to play competitive basketball since leaving the Philadelphia 76ers.
The veteran guard will join his sixth team in the association.
The sharpshooter has appeared in 31 of the Pelicans’ 43 games, averaging 8.7 points in a little less than 19 minutes per game. The 36 year-old, who is in his 15th season, is a 41.5% career 3-point shooter.
Nico Melli, a second year player out of Italy, has played in 22 games, averaging two points and 2.6 rebounds in 11 minutes per game.