07/04/2012 04:14 EDT | Updated 09/03/2012 05:12 EDT

Toronto Raptors may be out of Steve Nash sweepstakes: reports

Multiple media reports indicate that free agent point guard Steve Nash may be heading to New York as the Knicks and Phoenix Suns work out a sign and trade deal that would end the chance of the Canadian signing with the Toronto Raptors.

The Raptors offered the 38-year-old native of Victoria, B.C., a three-year deal worth $36 million US over the duration of the contract.

The New York Daily News is reporting that the Knicks would send Iman Shumpert, Toney Douglas and two other players to the Suns in the deal, which has yet to be finalized.

Toronto presented Knicks guard Landry Fields with an offer sheet for three years and $20 million on Tuesday, which was seen as an attempt to scuttle a sign-and-trade deal between New York and Phoenix, who reportedly showed an interest in Fields.

If New York was to match the offer sheet, Fields could not be included in the deal for Nash.