It turned out better than expected!
Derek Fisher agrees to a 3-year contract to rejoin the Lakers
12:32 AM PDT on Thursday, July 12, 2007
By BRODERICK TURNER
The Press-Enterprise
LAS VEGAS - For all intents and purposes, Derek Fisher will re-join the Lakers.
Fisher and the Lakers have agreed to a three-year contract worth about $13,959,000, league sources said.
However, there will be a holding period before he can sign the contract. Fisher, who was released by the Utah Jazz last week, has to clear waivers first.
It'll take seven days before Fisher can clear waivers, and that won't start until his previous contract of $20,592,600 that he walked away from is amended to zero dollars.
As of Wednesday night, the Jazz had not filed the paperwork with the NBA about Fisher's release. The seven-day countdown to Fisher's being free and able to sign with the Lakers won't start until Utah does.
Another team could pick up Fisher before he clears waivers. But if it does, that team will be on the hook for all of Fisher's $20,592,600 salary.
Fisher's contract with the Lakers will start at $4.3 million, which is less than the mid-level exception for next season at $5.3 million.
But Fisher, who will turn 33 next month, will get 8 percent raises on the next two years of his contract that will pay him $4.644 million during the 2008-09 season and $5.015 million in the final year.
Fisher became available after the Jazz released him from the last three years of a guaranteed contract so that he can concentrate on getting the best care for his 11-month-old daughter, who has cancer in her left eye.
Los Angeles is one the cities that can provide Fisher with the health care he needs for Tatum, who has been diagnosed with retinoblastoma.
The Lakers will hold a news conference today, and Luke Walton will sign a six-year, $30 million contract. Walton's agent announced that deal last week.
Walton and his agent agreed to help the Lakers out as far as the luxury tax is concerned by taking just $4 million in the first year.
That's still a significant raise from the $1,375,000 he earned last season.
Still, if Fisher signs, the Lakers will have committed $67.98 million to 13 players.
That would be slightly over next season's luxury tax threshold of $67.865 million.
Teams that exceed that have to pay a dollar-for-dollar tax. The Lakers could trade a player to get below the tax.
But the Lakers still want to re-sign center Chris Mihm, which could put them in luxury-tax jeopardy again.
Fisher spent the first eight years of his NBA career with the Lakers and was a part of three championship teams (2000-2002).
He was known as a good person in the locker room and in the community and was a close confidant of Kobe Bryant, whose agent, Rob Pelinka, just became Fisher's agent.
Fisher left the Lakers after they lost to the Detroit Pistons in the 2004 NBA Finals. He signed a six-year, $37 million contract with the Golden State Warriors, then was traded to the Jazz last summer.
Reach Broderick Turner at
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