Two-time NBA MVP Steve Nash has agreed to sign with the Los Angeles Lakers, a move that has pushed L.A. to as low as +800 to win the NBA Championship.
Nash, who was being pursued by numerous teams this offseason, joins the Lakers as part of a sign-and-trade with the Phoenix Suns, lining up a three-year deal worth as much as $25 million. Los Angeles gave up four draft picks - first-round selections in 2013 and 2015 and second-round picks in 2013 and 2014 - to acquire the eight-time NBA All-Star.
The Lakers opened the 2012-13 NBA Championship odds at 12-1 in Las Vegas last month. Some offshore markets are still dealing Los Angeles at a discount price, as high as +1,400. The Oklahoma City Thunder are the favorites out of the Western Conference, moving from +250 to +275 to win the title with news of Nash’s deal. The defending champion Miami Heat are the overall chalk at +225.
The 38-year-old point guard averaged 12.5 points and 10.7 assists last season. Nash played in Phoenix for the past eight seasons, earning back-to-back MVP honors in 2005 and 2006.
The deal can't be officially completed until July 11 due to the league's moratorium on new business.