While the rivalry cooled off during the 2010s due to poor teams and management by both squads throughout that decade, renewed interest in the rivalry sparked into the 2020s, with both teams returning to NBA Finals contention early in the decade, as well as both the Lakers and Suns having notable superstars joining them in LeBron James and Kevin Durant respectively and the Suns having hired former Lakers coach Frank Vogel for the 2023–24 season.

By the end of the 1960s, the Lakers created arguably one of the first superteams in the NBA with Wilt Chamberlain joining a roster that also included star players Elgin Baylor and Jerry West.

However, they also faced some different struggles during that season, including a point where head coach Johnny Kerr was replaced by general manager Jerry Colangelo exiting 1969 and entering 1970.

The late 1980s were one of the worst periods for the Suns, however, due to not just key players like Paul Westphal and Alvan Adams reaching retirement and coach John MacLeod no longer making a viable difference for the team, but also due to a scandalous period of time where players like Walter Davis, James Edwards, Jay Humphries, and Grant Gondrezick were taking illicit drugs (primarily cocaine) and damaging the team's reputation in the process, which subsequently later led to the sudden death of the young center Nick Vanos at the Northwest Airlines Flight 255 crash.

The sudden shift into being one of the worst teams led to the Suns making more bold, daring choices near the end of the decade by not just having general manager Jerry Colangelo become the new owner of the team as well (which helped save the Suns from potentially moving elsewhere and prematurely ending their rivalry by extension[8][9]), but also led to them making a gutsy trade with Larry Nance, Mike Sanders, and their 1988 first round pick being traded to the Cleveland Cavaliers for Kevin Johnson, Mark West, Tyrone Corbin, and multiple draft picks (one of which became fan favorite Dan Majerle) during the 1987–88 season, as well as fire former player turned coach John Wetzel for a return of Cotton Fitzsimmons coaching them (after previously doing so in the early 1970s) and sign Tom Chambers as the first ever unrestricted free agent during the following season.

This helped culminate into a rematch of the 1989 Western Conference Finals in the semi-final round in 1990, as the Suns hoped to overcome their personal demons during that series (Cotton Fitzsimmons had a 0–37 record against the Lakers when coaching in the Great Western Forum at the time and the Suns not only hadn't won a playoff series yet to the Lakers, but they also lost 21 straight games while in The Forum dating back to 1984).

While the Suns ultimately failed to reach the NBA Finals that year, players like Tom Chambers and Eddie Johnson felt like they had truly made it with the series.

[10] After that series, the Lakers fired Pat Riley and replaced him with Mike Dunleavy Sr. and left behind Michael Cooper to have one last shot at a championship with the Showtime Lakers before failing to defeat the Chicago Bulls (led by Michael Jordan and Scottie Pippen with Phil Jackson coaching them) and leaving behind the Showtime era for good with the unexpected announcement of Magic Johnson having HIV and subsequently retiring by force of fear of the disease afterward.

While the Suns couldn't return to the NBA Finals while they had Charles Barkley around due primarily to the Houston Rockets, the Lakers were able to regain Magic Johnson on their roster briefly in 1994 when he became a head coach for them in the early half of that year.

The 1996–97 season was also important for moves that shifted team trajectories, with the Lakers signing center Shaquille O'Neal after feeling the Orlando Magic were ungrateful to him and the Suns trading Charles Barkley to the Houston Rockets after feeling disappointed with recent moves Phoenix made to compete, which subsequently led to the Suns trading Robert Horry (and Joe Kleine) to the Lakers for the return of Cedric Ceballos (and Rumeal Robinson) after Horry had a confrontation with new coach Danny Ainge during a game.

During that same season, the Shaq & Kobe led Lakers saw the Suns in the Western Conference Semi-finals in their first appearances of the 21st century, with Phoenix implementing what they called "Backcourt 2000" led by the duo of Shaq's former teammate Anfernee "Penny" Hardaway and Jason Kidd, as well as the brief returns of Kevin Johnson and Oliver Miller, Sixth Man of the Year Rodney Rogers, and rookie Shawn Marion.

Meanwhile, injuries to Hardaway and domestic abuse by Kidd led to "Backcourt 2000" reaching an end by the 2001–02 season alongside the Suns' playoff streak they had since 1988, with their lowest point in the 2000s decade coming in the 2003–04 season with Stephon Marbury being traded to New York, a young Amar'e Stoudemire being injured, owner Jerry Colangelo nearly reaching his limits, and a young, inexperienced roster needing new leadership on what they needed to do for future success.

During the same season Jerry Colangelo sold the Phoenix Suns to longtime fan and business owner Robert Sarver, they reacquired star point guard Steve Nash from the Dallas Mavericks in free agency after previously having him from 1996 until 1998.

Their fast-paced style of basketball was considered the more modernized equivalent of the Showtime Lakers that focused on primarily getting the offense ready and prepared to score in seven seconds or less.

The Lakers, meanwhile, had to deal with the aftermath of their failed superteam for the 2004–05 season, with Shaq & Kobe feuding to the point where Shaq demanded a trade to the Miami Heat (which got the Lakers Lamar Odom, Caron Butler, Brian Grant, and 2006 first round pick Jordan Farmar), Gary Payton was traded to their greater longtime rivals in the Boston Celtics, Karl Malone retired from playing altogether, Derek Fisher signed a long-term deal with the Golden State Warriors, and Phil Jackson was briefly fired from coaching and was replaced by longtime Houston Rockets coach Rudy Tomjanovich.

That led to the Lakers failing to reach the playoffs for the first time since 1994 with a 34–48 record, as well as them reneging on their decision with Phil Jackson, as they brought him back to coach for a second stint.

However, the Suns still led the Pacific Division despite the frugal departures of Joe Johnson and Quentin Richardson and the season-long injury to Amar'e Stoudemire due to Steve Nash's growing leadership as a player combined with new additions like Boris Diaw (who became the Most Improved Player of the Year that season), Raja Bell, and both Kurt and Tim Thomas making sure the team didn't miss a beat along the way.

The following season saw a repeat in standings with the Lakers finishing in 7th place once again (this time getting a more disappointing 42–40 record) and the Suns finishing in 2nd place to win the Pacific Division once again while seeing a more improved 61–21 record with Amar'e Stoudemire returning to action (being an All-NBA First Team member alongside Steve Nash that year, being the first teammates to be on the First Team since Shaq & Kobe back in 2004) and both Boris Diaw and Raja Bell keeping the same form of play they had earlier on in the prior season.

Despite the great performances the team had when they were at full strength under Gentry, the Suns decided to trade Shaq to the Cleveland Cavaliers for the salary dump of Ben Wallace.

Doing that allowed the Suns to retain Jason Richardson, Grant Hill, and Jared Dudley, as well as sign Channing Frye, Louis Amundson, and Jarron Collins in free agency to help refortify the original strengths of the Seven Seconds or Less era teams while also looking to improve their bench units with second-year players Robin Lopez and Goran Dragić also helping out Leandro Barbosa.

Unfortunately for the Suns, the Lakers took care of their first two games at home to begin the series 2–0 with Kobe Bryant, Lamar Odom, Paul Gasol, and the rest of the team doing what they needed to do in the Staples Center.

With Steve Kerr resigning from his position at general manager and later being replaced by Lon Babby and Lance Blanks, Robert Sarver and the Suns not only failed to retain Amar'e Stoudemire due to them not budging on a partial guarantee met by a certain number of games played instead of a full guarantee, but they also made multiple trades for lesser players throughout the 2010–11 season that ultimately ended the Seven Seconds or Less offensive style for them in general.

However, increasing dissatisfaction from players like Goran Dragić, Isaiah Thomas, and eventually Markieff Morris and Eric Bledsoe led to major trades that reversed course into trying to find new success through the NBA draft in the late 2010s instead.

For the Lakers, the acquisition of New Orleans Pelicans power forward/center Anthony Davis they hinted at back in the 2018–19 season alongside the new coaching hire of Frank Vogel and veteran pick-ups like Rajon Rondo, Kentavious Caldwell-Pope, JaVale McGee, Danny Green, Avery Bradley, the return of Dwight Howard, and former Suns players Jared Dudley and Markieff Morris helped provide the Lakers their first playoff appearance since 2013.

Both teams saw significant success as newfound turning points once they entered the ESPN Wide World of Sports Complex in Orlando, Florida after the Suns signed Cameron Payne and the Lakers signed J. R. Smith for the Bubble, with Phoenix having a perfect 8–0 record in the Bubble (although missing the playoffs yet again) and the Lakers eventually winning the 2020 NBA Finals to tie the NBA for most championships won there with 17 (dedicating this championship to Kobe Bryant and his daughter Gianna after their death in the 2020 Calabasas helicopter crash earlier in the season).

While still dealing with the long-term consequences of the pandemic for a somewhat shortened 2020–21 season, the Suns sought to make significant changes by trading Kelly Oubre Jr., Ricky Rubio, Jalen Lecque, Ty Jerome, and a 2022 first round pick to the Oklahoma City Thunder for Chris Paul and Abdel Nader.

Due to COVID-19 protocols at the time, neither team could fully fill up their stadiums with proper crowds, but they both made sure to provide a great first round for their rivalry being renewed since their last playoff match against each other in 2010.

The following season after that had the Suns record a new personal best 64–18 record leading the entire NBA that year by signing former Lakers center JaVale McGee alongside Bismack Biyombo, while the Lakers tried to have a new superteam with Russell Westbrook, Carmelo Anthony, Rajon Rondo for a second time, and Dwight Howard for a third time joining LeBron James and Anthony Davis.

Entering the 2023–24 season, the Phoenix Suns looked to create their own superteam with Chris Paul and Landry Shamet being traded alongside a bunch of first round picks to the Washington Wizards for star shooting guard Bradley Beal joining Devin Booker and Kevin Durant alongside mostly veteran's minimum players joining them, as well as having former Lakers coach Frank Vogel being their new head coach.

The Lakers later ultimately won the inaugural tournament on December 9, 2023, defeating the Indiana Pacers at the T-Mobile Arena in Las Vegas, Nevada 123–109.