The Rockets will buy out the remainder of Derek Fisher's contract, according to Fran Blinebury of NBA.com (via Twitter). Speculation that Houston would buy out Fisher began almost immediately after the Rockets acquired him yesterday, with Jonathan Feigen of the Houston Chronicle tweeting earlier today to "expect [a] buyout."
Fisher's cap figure is $3.4MM this season, with a player option worth the same amount for 2012/13. The Rockets have been attempting to clear cap space for this summer, so if the Rockets and Fisher agree on a buyout, we'll see how much of next year's figure Houston can clear from its books.
If a buyout is finalized before next Friday, Fisher will be free to sign with any team in the NBA besides the Lakers. Since L.A. traded him, the veteran point guard is prohibited from rejoining the Lakers this season, under the new Collective Bargaining Agreement.