STEVE NASH SIGNS EXTENSION WITH PHOENIX SUNS

Two-time NBA MVP Steve Nash has accepted a contract extension from the Phoenix Suns, and will formally sign the deal early this week.  The deal will extend his current contract by two years, and will pay him $22 million dollars.  According to his agent, Bill Duffy, Nash will make the deal official Tuesday or Wednesday in Phoenix.

Nash had a year remaining on his previous deal, which will pay him $13 million for the 2009-2010 season.  The Suns had been interested in retaining his services all along, but for most of the summer Nash had been leaning toward playing out his contract and joining the star studded 2010 free agent class.  Initially, the team offered him a two year deal worth $20 million that was initially rejected.  Apparently the slight increase in the financial terms convinced Nash that he’d be better off resigning and allowing the team to get a better grasp on their future personnel issues.

Nash’s agent had the following comments to the Arizona Republic newspaper:

"For the organization and for Steve, I'm ecstatic. Robert Sarver remains steadfast in his commitment to Steve and his belief that Steve can lead this organization to the top of the NBA. And Steve believes that as well. I think there was a hiccup in the year and a half but I think they feel that can be corrected."

Nash also agreed to defer a portion of his salary in the two years of the extension to give the team more financial flexibility.  The entire situation comes as a big relief to Phoenix, who had made retaining the services of the slick playmaker their top offseason priority.  His agent Duffy commented that Nash’s desire to provide some certainty to both his and the team’s future weighed heavily in his decision to re-up:

"There is always uncertainty with free agency. He's become more comfortable with the certainty and the vision that Phoenix expressed to him moving forward. ... Once he became convinced of Kerr's plan and Steve's participation in that plan, I think that put Steve over the top. He sees them as being competitive this season."

In earlier interviews, Nash had expressed concerned about the financial resources of the team and its impact on putting a competitive lineup on the floor as he noted: ’we maybe don't have the deep pockets of some of the other teams.’  There had been some talk of a trade that would have sent Nash  to Portland in a ‘sign and trade deal’, but the Blazers balked at the deal when Phoenix held fast to their insistence that they receive some of the team’s most promising young prospects including Jaryd Bayless.
 
When that deal fell through, Nash began to seriously consider signing the extension.  He reportedly was impressed by the Suns’ off-season moves so far, with the team retaining the services of his good friend Grant Hill and signing talented Channing Frye as a free agent.