Found March 18, 2012 on Speculative Sports:
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According to Adrian Wojnarowski of Yahoo! Sports, Derek Fisher and the Houston Rockets have reached an agreement on a buyout. Fisher will no become a free agent after clearing waivers.

Said Wojnarowski:

Fisher will likely have a deal with a contender soon. A new rule in the collective bargaining agreement doesn’t allow him to get bought out after a trade and re-sign with the Lakers this season. Fisher had a $3.4 million player option on his 2012-13 contract.

Fisher, 37, was traded to the Rockets for center Jordan Hill and a 2012 first-round draft pick.

In June of 2010, the then free agent Fisher met with the Miami Heat, who made him a “compelling” offer. He also met with LeBron James to hear yet another pitch.

However, with point guards Norris Cole and Mario Chalmers already on the roster, it is unlikely the team will go after the veteran Fisher.

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