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As previously rumored, the Milwaukee Bucks have indeed acquired point guard Luke Ridnour from the Minnesota Timberwolves in a three-team trade including the Oklahoma City Thunder. The deal revolved around a sign-and-trade arrangement sending shooting guard Kevin Martin to the Timberwolves, while Ridnour and a future second-round pick will be sent to the Bucks. The Thunder also sent cash considerations to both Minnesota and Milwaukee.
While almost everybody is still trying to work out the Bucks' current cap situation, it can be surmised that Ridnour was effectively acquired to slot into the cap space created by the Luc Mbah a Moute trade...or will be, if that trade hasn't actually happened yet. It's all very complicated but completely legal, I can assure you. Mercifully, the second-round pick Milwaukee is getting is completely unprotected, unlike the ones from the J.J. Redick deal. However, it doesn't actually originate with the Timberwolves: it is the Lakers' 2014 2nd-rounder, which was first traded to Phoenix before being dealt to Minnesota. That makes 5 4 (edit: as I was reminded in the comments, the 2018 pick from Sacramento is actually swap rights) second-round picks acquired by John Hammond this offseason.
One additional transaction took place in this deal: the Bucks sent the draft rights to 2003 second-round selection Szymon Szewczyk. Szewczyk hasn't seen any real NBA action, but he did play on the Bucks' Summer League team back in 2009. He appeared in 5 games, averaging 3.8 points and 1.4 rebounds in 7 minutes per contest. Here is a highlight reel for the Polish superstar (h/t @royceyoung).
Luke Ridnour spoke with Bucks' play-by-play man Jim Paschke about rejoining the Bucks. Here's a link to the interview on Bucks.com. Thanks to Jim for passing it along.