Return to Phoenix (2004–2012)
Nash joined a Suns team which had emerging young players in Shawn Marion, Joe Johnson, and Amar'e Stoudemire. In the season before Nash arrived, the Suns had recorded a 29–53 win–loss record, and they were projected to have another poor season. Head coach Mike D'Antoni favoured an up-tempo style of basketball; this required smaller and more athletic players with the capability to outrun and outshoot their opponents. On 21 November 2004, Nash recorded 22 points, 18 assists and 4 steals in a 122–111 win over the Los Angeles Clippers. Nash's familiarity with this style combined with the athleticism of his teammates produced an NBA-best 62–20 record and a points-per-game average of 110.4, the highest in a decade. The catalyst of this turnaround, Nash averaged 11.5 assists per game while making 50.2% of his field goals and 43.1% of his three-pointers in the regular season. He edged Shaquille O'Neal to win the 2004–05 NBA MVP award, becoming the first Canadian to earn the honour, as well as the third point guard ever to be named MVP, along with Magic Johnson and Bob Cousy. In the 2005 playoffs, Phoenix swept the Memphis Grizzlies in four games before meeting the Dallas Mavericks in the second round. Nash led the Suns to a 4–2 series win, and the Suns reached the Western Conference finals for the first time since 1993, but lost to the eventual NBA Champions and arch-rival, the San Antonio Spurs, in five games.
In the next season, Stoudemire suffered a serious knee injury, and Johnson and Quentin Richardson were traded away. The Suns were not expected to repeat their successful 2005 season, but with Nash directing the same high-tempo offence, the team compiled a respectable 54–28 record and won the division title. On 2 January 2006, Nash recorded 28 points, 5 rebounds and 22 assists in a 140–133 triple overtime loss to the New York Knicks. The Suns were again the highest-scoring team in the league with seven players averaging double figures in points per game, and Nash was voted for the first time to start for the 2006 Western All-Star team. In the last game of the season, Nash recorded a triple-double of 16 points, 10 rebounds and 12 assists in a 106–96 road win over the Trail Blazers.
Having recorded career highs in points (18.8), rebounds (4.2), field goal percentage (.512) and free throw percentage (a league-leading .921), and leading the league with 10.5 assists per game, Nash was named the league MVP for the second year in a row. In the first round of the 2006 playoffs, Phoenix overcame a 3–1 deficit against the Los Angeles Lakers and won the series 4–3. The Los Angeles Clippers were their Conference semifinals opponents, and the Suns again needed seven games to clinch the series. For the second year in a row, however, the Suns bowed out in the conference finals, this time to Nash's former team, Dallas.
In the 2006–07 season, Nash had another stellar campaign, averaging 18.6 points and a career-high 11.6 assists per game while becoming the first person since Magic Johnson in 1990–91 to average 18 points and 11 assists per game during the regular season. Nash received the most votes for first-team All-NBA and was joined by teammate Stoudemire; the two were the first teammates to make the first team since Kobe Bryant and Shaquille O'Neal in 2003–04. Nash received 129 first-place votes and 645 total points from the panel of 129 media members. He narrowly missed being MVP a third consecutive time, coming in second with 44 first place votes to 83 for Dirk Nowitzki. In the 2007 playoffs, the Suns eliminated the Lakers in five games before losing 4–2 to the Spurs in the conference semifinals.
Nash played in 81 regular season games during the 2007–08 season; in this campaign, the Western Conference was especially competitive and he led the Suns to 55 wins and the sixth seed for the 2008 playoffs. Although there was a dip in his regular season output, Nash's shooting remained sharp; the accuracy of his shooting was on par with his 2005–06 MVP campaign (shooting at least 50% from the field, 40% from the three-point arc, and 90% from the free throw line). On 31 January 2008, he collected his All-Star stripes for the sixth time in his career. However, Nash continued to experience agony in the playoffs. Despite a mid-season trade that sent Shawn Marion to the Miami Heat and brought four-time NBA champion Shaquille O'Neal to the team, the Suns were defeated in the first round of the 2008 playoffs by the San Antonio Spurs for the third time in four years. In the deciding Game 5, Nash was perceived to have suffered from "elimination-game jitters", and turned over the ball twice in the final two minutes of what was a tight contest. Nevertheless, Nash was later named to the All-NBA Second Team for the 2007–08 season.
Before the 2008–09 season began, coach D'Antoni was replaced by Terry Porter, who preferred a more defensive-oriented style of basketball. The Suns had difficulties adapting to this new system, and even a December trade involving sending stalwarts Raja Bell and Boris Diaw to the Charlotte Bobcats for athletic swingman Jason Richardson saw the team continue to struggle. Porter was then replaced by Alvin Gentry in February after a 28–23 record, but the Suns were unable to secure the final seed for the 2009 playoffs, resulting in Nash missing the playoffs for the first time since he returned to Phoenix for his second stint.
In the off-season, Nash, entering the final year of his contract, signed a two-year, $22 million extension to keep him in Phoenix through 2011–12 season. Nash and the Suns opened the 2009–10 season with a series of strong performances, going 8–1 in their first nine games (a franchise-best since 1980–81), with Nash producing two 20-assists games. On 21 January 2010, Nash was named as the starting point guard for the West for the 2010 NBA All-Star Game. With him operating at the point, the Suns were the highest-scoring team in the league for the fifth season in a row, and were seeded third in the conference for the 2010 playoffs with 54 wins. Behind solid performances by Richardson and veteran Grant Hill, the Suns defeated the Portland Trail Blazers 4–2 in the first round of the playoffs, and swept the Spurs 4–0 in the second round. The Suns met the defending champions, Los Angeles Lakers, in the conference finals. After losing the first two games, Phoenix won the next two to tie the series. A Ron Artest buzzer-beater in Game 5 pushed the Lakers one game closer to the Finals, and Kobe Bryant's 37 points in Game 6 completed the defeat of the Suns.
The Suns underwent two major roster changes in the 2010–11 season. During the pre-season, Stoudemire left for New York, while longtime teammate Leandro Barbosa was traded for Hedo Türkoğlu. Josh Childress, and Hakim Warrick were also recruited to join the Suns. Not long after the season began, Türkoğlu, Richardson, and Earl Clark were traded to Orlando for Vince Carter, Marcin Gortat, and Mickaël Piétrus, while rising star Goran Dragić was traded to the Houston Rockets for Aaron Brooks. The Suns had difficulty being even a .500 team, and for the second time since Nash returned to Phoenix, the Suns failed to make the 2011 playoffs.
In February 2012, Nash was named to his eighth All-Star Game. At the time, he was leading the NBA in assists per game. On 21 April 2012, Nash passed Oscar Robertson for career assists versus the Denver Nuggets. Despite his stellar play the Suns missed the 2012 playoffs for the second consecutive time. He finished the season averaging 12.5 points and 10.7 assists per game on 53.2% shooting from the field (tying his career high). Near the end of the 2011–12 season, Nash was named the winner of the PBWA's Magic Johnson Award.
