According to a report from Eric Pincus of the Los Angeles Times, the Lakers can officially no longer use the Stretch Provision on Steve Nash. Per the Times report:
The deadline for the Lakers to use the "stretch" provision on Steve Nash passed over the weekend.
The 40-year-old point guard is heading into his third year with the team, earning $9.7 million for the 2014-15 season.
Had the Lakers waived Nash prior to September, they would have been able to stretch his salary over the next three years at around $3.2 million annually.
It was widely assumed that this would be the team's decision in order to preserve as much cap space as possible over the next two years, but it is notable the decision is now official. It remains to be seen if the former two-time MVP can contribute much, if anything, to the team this season, but the organization seems to have decided that taking the cap hit this season, rather than spreading it out over the next three years, is the wisest move going forward.