Toronto may be in Canada, but I think it's a bit far to be saying he's going 'home' just because it's Canada. It's a perception that the media has been harping on for quite some time that is just plain incorrect.
He grew up in British Columbia. It's like saying someone on the Toronto Bluejays is coming home to play on the Marlins, though they are from the Los Angeles area.
Sure it's the same country, thus it is home in a sense. But wrong side of Canada. It's not like he'd be coming 'home' from Germany or France.
I'm sure it has some appeal to Nash, but it'd be a home he's never lived in. One plus Toronto has is that it'd be a short flight to his NY summer home. I can see THAT as being a bigger factor than 'going home'. He'd be closer to his actual summer home.
Personally I'm of the mindset that if the Suns don't get Nash back, whether we trade him, or more likely he leaves outright, we should target players for a show me contract. If necessary make it very sweet 1 year deal. There is no reason we can't overpay someone for 1 year to see if they are worth it. Thus still 'keeping' our power dry.
Additionally all those contracts are 'expiring' contracts and become tradeable for picks if we choose to. (and if obviously someone wants to take the other side)
If a guy's worth is 3-4 mill a season, but wants 3-4 years. I'd be willing to pay 6-8 on a one year contract.
It would
a) keep our powder dry for future seasons
b) allow us to try out a few different guys and pick the one or perhaps two to keep (yet be in a position where since it expires we can sign other guys first and thus be able to go over the cap since they aren't free agents from other teams)
c) allow us to trade the ones we don't want, or maybe even someone who does pan out for the bigger picture....draft picks. Maybe draft picks and a young player, or maybe a decent but overpaid guy with an additional year on the contract and draft pick(s). Thus worst case gaining draft picks, for losing some, but not all flexibility for say an additional season.
But we'd need a front office who can think, and an owner who doesn't mind overspending a bit (small bit) to create opportunity. IMO this approach gives you the most opportunity from where we stand with limited talent and no extra picks.
While I would love to get a high pick for sucking, I think the more important factor that you can control is finding talent and acquiring more picks. It's really hard to get in the top 3, so I would rather go about it this way. I'd rather us be active than hoping on ping pong balls to drop favorably...which of course we'd still have that. Though I doubt we have planners with a bankroll capable of pulling it off.