Even at 37, he's still arguably the best offensive point guard in the league. He's had a lot of success with the Suns but it's become clear that he's not going to lead Phoenix to a title.
They had their best teams of the Nash era a few years ago, and even then fell short of being legitimate contenders. Phoenix's current roster is much worse than those squads.
They need to begin a full-scale rebuilding, and moving Steve Nash will be a critical part of that process.
He still has a lot to offer a contending team, and there will definitely be some organizations that won't mind giving up a few players for Nash.
Here are 10 teams that may make a play for him this offseason...
Who They Could Offer: Jason Terry and Rodrigue Beaubois
A deal for Nash would have made a little sense for Dallas back in February.
They could have offered Rodrigue Beaubois and Caron Butler's expiring contract.
It would have been a great story, but considering the way Dallas is currently playing, it's not going to happen now.
The brightest spot in Dallas' future is Beaubois and Mark Cuban isn't likely to let him go.
Who They Could Offer: Monta Ellis
Monta Ellis is one of the league's most electrifying scorers but there has been a lot of chatter in each of the last three offseasons concerning his coexistence with Stephen Curry.
The deal that makes the most sense for Golden State is a straight swap of Ellis and Philadelphia's Andre Iguodala.
However, landing Steve Nash would make a bigger splash in the media and with fans.
Curry would move over to shooting guard (which is where some people feels he should play anyway).
Nash would make everyone on that roster look much better on offense, but they would be even worse defensively than they already are.
Who They Could Offer: Mo Williams and Al-Farouq Aminu
The Clippers would likely have to include a draft pick or two in this deal to make Phoenix bite.
Mo Williams is a decent point guard but would not be enticing on his own.
Some people still feel Aminu has the potential to be a good player, and a 2012 draft pick could be very valuable considering how many college stars are passing on the 2011 draft.
Nash would be a great addition to the Clippers.
Blake Griffin led the NBA in dunks this past season, just imagine how many he'd get with Nash running the point.
Who They Could Offer: Andrew Bynum
If the Lakers end up losing this series to the Dallas Mavericks, the team could be in for a few changes.
We already know Phil Jackson isn't coming back, so there is the possibility that the team will depart from the triangle offense.
Andrew Bynum would be more than enough of a return for the Suns. In fact, he may be too much for the Lakers to give up.
If they're desperate to change things up, it might happen.
The window on Kobe Bryant's days as an elite scorer is closing rapidly, adding Nash to the team would keep it open a little longer.
Right now, Kobe is under a lot of pressure. He may relish that, but once he gets a taste of what it's like to play with an elite distributor, he may never want to go back.
Nash would make scoring significantly easier for Bryant--and everyone else on the team as well.
Who They Could Offer: Chris Bosh
This is another one that is an extremely long shot.
During the times in which Miami was struggling, there were quiet grumblings over the possibility of the team trading Chris Bosh.
If they have a complete meltdown and end up losing this series to the Celtics, those rumors may surface again.
A deal of Steve Nash and Channing Frye in exchange for Bosh works in terms of numbers.
The Suns would get a great centerpiece for their rebuilding in an elite power forward entering the prime of his career.
Plus, the outside shooting of Nash and Frye would really open up the paint for James and Wade.
Who They Could Offer: Wesley Johnson, Jonny Flynn and Darko Milicic
Nash wouldn't have a shot at a title with this team, but Minnesota may be willing to throw a lot at the Suns in order to land their point guard and convince Kevin Love to stick around.
Nash could make both Love and Michael Beasley look like offensive juggernauts.
Who They Could Offer: Chauncey Billups and Landry Fields
This deal would have little to nothing to do with Chauncey Billups. The Suns would almost certainly let him walk at the end of next season, and may even buy him out before then.
The trio of Nash, Stoudemire and Mike D'Antoni never panned out in Phoenix, but some people still think it would work if they came together in New York.
Of course, they would have one other elite scorer on the roster in Anthony, who is better than any second scorer they played with in Phoenix.
The issue would still be defense.
Who They Could Offer: Jameer Nelson and Ryan Anderson
The team has one more year to convince Howard to stick around, and landing Nash may help them sign their center to at least one more contract.
Nash and Howard would be an unbelievable screen-and-roll combination and I wouldn't be surprised to see Howard's scoring average jump up over 25 points a game.
Nelson is a decent veteran point guard who could help the Suns transition into their new era, and Anderson could easily be a 20 point per game player if he just got the minutes.
Who They Could Offer: Andre Miller and Nicolas Batum
The Blazers have been pretty insistent on hanging on to Nicolas Batum over the last couple years.
Plenty of teams have inquired on his availability and Portland has rebuffed everyone.
LaMarcus Aldridge is already a great all-around scorer who led the league in converted alley-oops this past season. Imagine the kind of production he'd have if he played with Nash.
Andre Miller's contract would set the Suns' rebuilding back one year, but Batum is the kind of young talent that teams in Phoenix's situation are after.
Who They Could Offer: Andrea Bargnani and Jerryd Bayless
Bargnani was the Raptors leading scorer, but a lot of people think he's too soft to lead a team.
However, he has a lot of offensive talent, and may still develop into a 25-30 point player.
Bayless is a scoring guard, and would likely come off the bench behind Aaron Brooks.
If Toronto really wanted to acquire Nash, they'd likely have to include a draft pick or two on top of the players mentioned.
Like a couple other teams on this slideshow, Nash wouldn't be heading to a contender in this situation.
But some feel he may be intrigued by the possibility of finishing his career in his home country of Canada.
There is of course the chance that the Suns just hang on to Nash.
This is probably the worst course of action Phoenix can take with their star, but it's not an unlikely one.
Nash puts people in the seats, and has said he'd like to finish his career with the Suns.
The problem is that Nash won't win a title with Phoenix in the next couple years and keeping him around delays an inevitable rebuilding.