Steve Nash and the Phoenix Suns have agreed on a two-year, $22-million contract extension, his agent, Bill Duffy, confirmed Monday.
The deal, which will keep the two-time MVP point guard under contract with the Suns through the 2011-12 season, was first reported by ESPN. Nash, 35 and entering his 13th NBA season, had one year left on his contract that would pay him $13 million next season.
Under the agreement, which Nash is expected to sign later this week, $6 million of the final two years of the contract will be deferred, with $3 million being paid in each of the two years after the expiration of the contract, Duffy said.
Cuban is sued
Dallas Mavericks owner Mark Cuban is accused of wrongfully diverting millions of dollars from the franchise's home arena to help make up for cash shortfalls incurred by the team, according to a lawsuit filed by a company controlled by the team's former owner.