The Rockets and Derek Fisher are finalizing a buyout agreement, according to a source.
Fisher hasn't made a public statement since he was traded by the Lakers to Houston.
"He may have caught wind of the rumor a day or two ago, but there was no heads up given," Mitch Kupchak said on Thursday. "It's not necessary, because a lot of times there's nothing to the rumors. How many times was one of our players traded in the last 10 days and it never took place? So you can't spend your time dispelling or confirming rumors.
"But when something like this does happen, I can imagine what he's going through. I've never really gone through it, but to be in one place, to have the kind of contribution, midseason, it's got to be pretty emotional. We'll talk at the right time."
Fisher had a $3.4 million player option for next season and is expected to be officially waived Monday.
Fisher can sign with any team other than the Lakers.
Fisher doesn't plan to retire and hopes to sign with a contender.