http://losangeles.sbnation.com/los-angeles-lakers/2012/7/4/3137856/steve-nash-rumors-suns-lakers-deal-draft-picks

A deal to send Steve Nash to the Los Angeles Lakers in exchange for draft picks is "all but done," according to a report from John Gambadoro of KTAR Phoenix:

John Gambadoro@Gambo620
Nash to LA for multiple picks all but done!!!
4 Jul 12 ReplyRetweetFavorite
He later added:

John Gambadoro@Gambo620
Nash never wanted to go to Toronto he wanted to be closer to home in Phoenix, he falls into the 8.9 mill exception. Deal is done
4 Jul 12 ReplyRetweetFavorite
The deal is suspected to include at least two first rounders, also according to Gambadoro. Rumors have been swirling around the veteran pointguard, with the Toronto Raptors being quote vocal about their interest in Nash. The rumored deal would be beneficial for both the Suns and the Lakers. By signing Nash and then trading him, the Suns gain value in return for his departure rather than simply losing him in free agency. The Lakers, already well over the luxury tax, would be unable to afford Nash on the open market, but a deal with Phoenix would allow them to use their $8.9 million exception to make a competitive offer.

Nash would be of substantial benefit to the Lakers, whose lack of depth at point guard contributed to their early exit from the 2012 NBA Playoffs. A veteran who can move the ball around as well as shoot would certainly be a big step up for the team.