Nash had one season remaining on his contract that was only partially guaranteed. With the Suns picking up that season, the new deal will be worth a total of $35 million over the next three years. The extension, which allows Phoenix to keep Nash through the 2011-12 season, is expected to be finalized with Suns officials later Monday.
“This is incredible for a player of his age to merit this kind of contract,” said Nash’s agent, Bill Duffy. “It’s an absolute tribute to his greatness.”
Though Nash, 35, had expressed concerns about the direction of the Suns after they failed to reach the playoffs last season, he had begun telling friends in recent weeks he planned to stay in Phoenix. As Yahoo Sports! reported, Grant Hill’s(notes) decision to re-sign with the Suns was partially based on the belief that Nash was close to signing an extension.