The Steve Nash to Los Angeles Lakers trade reported earlier has been confirmed, according to multiple reports. Both ESPN and CBS Sports confirm the deal. In exchange for Nash the Phoenix Suns will receive four draft picks, according to Paul Coro. The Suns will receive the Lakers' 2013 and 2015 first-round picks and their 2013 and 2014 second-round picks.
With a sign-and-trade agreement Phoenix gets something in return for Nash, and the Lakers can use their $8.9 million trade exception to make an offer the CBA would otherwise prohibit. The Lakers are already well over the luxury tax, and that exception appears to be key in the offer made to Nash, reported to be a three year, $25 million deal.
Their needs at point guard were one of the most pressing off season issues for the Lakers. A veteran point guard with talent in both shooting and in setting up plays appears to be just what the team needed to avoid another early exit from the playoffs.