Breaking News: Sources Say Steve Nash Traded to Los Angeles Lakers

Multiple sources are reporting that the Los Angeles Lakers have acquired Steve Nash from the Phoenix Suns via sign-and-trade for several future draft considerations.  In return for the 38 year-old future Hall-of-Famer, the Suns will receive first round picks in 2013 and 2015 as well as second round choices the next two drafts.

Jan. 5, 2011; Phoenix, AZ, USA; Phoenix Suns guard (13) Steve Nash and Los Angeles Lakers guard (24) Kobe Bryant at the US Airways Center. The Lakers defeated the Suns 99-95. Mandatory Credit: Mark J. Rebilas-US PRESSWIRE

Both the Toronto Raptors and New York Knicks emerged as favorites to land Nash over the last several days, and the latter was thought to be the easy front-runner as little as several hours ago.  Barring unforeseen complications, the Lakers swooped in at the last minute and gave Phoenix the most attractive trade package, landing Nash in the end.

Check back later for more coverage of this developing story.