Derek Fisher and the Rockets agreed to a buyout on Sunday and has been placed on waivers.
"After much discussion and expressing their desire to welcome Derek to their team this season as well as the 2012-13 season, the Houston Rockets and Derek have negotiated a buyout," Fisher's publicist Jamie Wior said in a statement. "Derek's desire to win a sixth championship is what drives him and will continue to drive him as he moves forward. We thank the Houston Rockets front office for their interest, time and their absolute professionalism."