Derek Fisher has officially reached a buyout agreement with the Rockets, and is expected to hit free agency once he clears waivers, according to Yahoo! Sports' Adrian Wojnarowski. In one of the more surprising deals that went down before the deadline, the 37-year-old point guard was dealt to Houston for Jordan Hill and a top-20 protected first round draft pick after the Lakers acquired Ramon Sessions in a separate move.
At this stage in his career, Fisher is seen as one of the weaker guards in the league, but due to this experience in big games (five championships with the Lakers since 2000) he could sign on with a contender upon becoming a free agent. He'll be available to sign with any team except the Lakers due to a new rule in the CBA.