Fisher, 37, won five championships with the Lakers. He was expendable after the Lakers acquired Cleveland Cavaliers guard Ramon Sessions for Jason Kapono and L.A.'s 2012 first-round pick. While Fisher had remained the Lakers' starting point guard this season, many of the fourth-quarter minutes were going to Steve Blake.
The Rockets will explore buying out the remainder of Fisher's contract – he has a $3.4 million player option for next season – Houston also could use someone to backup Kyle Lowry.
Other popular content on the Yahoo! network:
• Y! Sports sources: Blazers fire Nate McMillan as coach
• Video: Who will win the Cy Young Award in 2012
• Y! Real Estate: Priciest cities for renters
- the Lakers