Bogdanovic becomes the third high-profile player traded away this offseason by the Jazz, who also parted with All-Stars Rudy Gobert and Donovan Mitchell in separate blockbusters signaling the franchise's rebuild.
The 6-foot-7 Bogdanovic, who averaged 18.1 points per game last season, now joins a young Pistons team that features Cade Cunningham, the No. 1 overall draft selection in 2021, and Jaden Ivey, who was picked fifth overall this year.
Bogdanovic, 33, is a 39% career 3-point shooter and figures to improve the long-range shooting for the Pistons, who finished last season second worst in the NBA at 32.6% from beyond the arc. He has averaged 15.0 points and 3.6 rebounds in parts of seven seasons with the Jazz, Pacers, Wizards and Nets.
The 6-foot-11 Olynyk, 31, played primarily as a backup with the Pistons last season, averaging 9.1 points and 4.4 rebounds in 40 games. The former Gonzaga star could strengthen a Utah frontcourt that is seeking to replace Gobert.
Lee, 23, has showed flashes of promise in his two seasons with the Pistons but likely would have struggled to find playing time in a crowded backcourt rotation that already includes Cunningham, Ivey, 2020 lottery pick Killian Hayes and veterans Alec Burks, Cory Joseph and Rodney McGruder.