"Dallas Mavericks free agent guard Steve Nash reached a verbal agreement Thursday night to sign with the Phoenix Suns, ESPN.com's Marc Stein has learned."

"Nash and agent Bill Duffy, according to league sources, received an offer from Phoenix on Thursday -- believed to be a five-year package worth more than $65 million with a partial guarantee for the sixth season -- and brought it back to the Mavericks."

"Mavs owner Mark Cuban, sources said, declined to match the offer."

He can not officially be signed until July 14th, but the verbal agreement is pretty official.

This also has an effect on the Lakers tandem of Shaq and Kobe. The Suns were one of the frontrunners in the Kobe sweepstakes. With the Nash signing they will no longer be. Also, the supposed Mavericks deal for Shaq involved a sign and trade of Steve Nash.