The Utah Jazz are finalizing a trade that would send Kelly Olynyk and former first-round pick Ochai Agbaji to the Toronto Raptors in exchange for Kira Lewis Jr., Otto Porter Jr., and a 2024 first-round pick, according to ESPN's Adrian Wojnarowski.

Olynyk, who was widely expected to be dealt ahead of the NBA trade deadline, is in the final year of his contract and set to become an unrestricted free agent in the summer. Known for his abilities to spread the floor as a stretch big, Olynyk now heads to a Raptors team that is currently re-tooling in hopes of once again finding playoff success.

In a total of 50 games with the Jazz this season, Olynyk has averaged 8.1 points, 5.1 rebounds, and 4.4 assists per game while shooting 42.9 percent from three-point range. He will be an immediate frontcourt upgrade for the Raptors, alongside starting center Jakob Poeltl.

Agbaji now gets a fresh start with a team that values youthful wing. After falling out of Utah's rotation this season, it became clear that Agbaji's time with the franchise that drafted him 14th overall in 2022 was coming to an end.

The Jazz, who were receiving a lot of interest on the trade market for Olynyk, elected to move him to a team not in an immediate position to contend for a playoff spot. In return, Utah gets two players, Lewis and Porter, both of whom do not seem to check off any boxes for what the Jazz need. Porter could very much be re-routed to a new team before the trade deadline.

The first-round pick the Jazz receive from the Raptors is the least favorable of the Oklahoma City Thunder, Los Angeles Clippers, Houston Rockets, and Jazz first-round picks in 2024. The Jazz had previously traded their 2024 first-round pick.

This deal with the Raptors opens up minutes for some of Utah's younger players, as well as creating more flexibility moving forward with another draft asset.