Derek Fisher has reached a buyout agreement with the Houston Rockets and is expected to become a free agent once he clears waivers, league sources told Yahoo! Sports.

via Derek Fisher reaches buyout with Rockets - NBA - Yahoo! Sports.

So Fisher will become a free agent and will likely have his pick of contenders on a veteran minimum contract for the remainder of the season. He can still play a little defense on reserve guards and knock down the occasional three. Plus he has so much respect as the leader of the NBPA and as such a longtime fixture in the league that most locker rooms will welcome him in.

Miami wanted Fisher two years ago when he signed his last deal with Los Angeles so that would be an obvious start. The Celtics always look at players like Fisher dspite their need for athleticism being the most glaring issue. San Antonio's another target with the way they like bringing in more quality locker room guys.

It would be interesting to see Fisher on a rebuilding team, though, a team in need of a culture change like Washington or the Kings. His ability to get guys' attention would do some real good to try and make them play the right way. But then, at this point in his career, Fisher's probably not looking to do charity work.

One team he will not be joining is the Los Angeles Lakers. The new CBA signed in December limits teams who trade a player who is then bought out from re-signing that player for a six-month duration. The Lakers could bring Fisher back, but not until next season.