Updated: July 12, 2010, 5:13 PM ET
Fisher returns to Lakers
By Ramona Shelburne
Derek Fisher has decided to stay with the Los Angeles Lakers.
Credit Kobe Bryant with the assist.
"I have decided to continue with Kobe, continue with our teammates and the fans of Los Angeles," Fisher said in a statement on his website. "While this may not be the most lucrative contract I've been offered this offseason, it is the most valuable. I am confident I will continue to lead this team on and off the court. Let the hunt for six begin."
The Lakers have won two straight titles and five in Fisher's tenure with the team. He gets a three-year deal to return, with a player option on the final year. Monetary terms were not immediately available.
The Lakers were waiting for the deal to be completed before announcing anything.
"Nothing is signed yet," Lakers general manager Mitch Kupchak said. "We're in continuous dialogue with [Fisher's] representative and we hope to announce something soon."
Fisher, 35, had been courted by the Miami Heat. He met with Miami president Pat Riley and owner Micky Arison at the Mandarin Oriental Hotel in Miami on Saturday morning where the Heat told him it wanted him to be its starting point guard and to join LeBron James, Dwyane Wade and Chris Bosh.
"I took time to consider all my options, many not reported in the media," Fisher said. "I listened to every coach, every general manager, even potential teammates in order to make the right decision and I thank every one of them. At the end of the day, there's one person I could not turn away from.
"Kobe Bryant asked me to stay but supported whatever decision I made. He and I have played together for 11 seasons, came into the league together as kids, and has been loyal to me even when others had doubts. We have won five championships together."
The Lakers had been in constant contact with Fisher and his representative Rob Pelinka since the free-agent negotiating period opened on July 1, although negotiations had proceeded slowly but amicably.
Fisher averaged 7.5 points and 2.5 assists per game last season, but he stepped up with some big shots in the playoffs, especially against the Celtics in the NBA Finals.
Los Angeles lost free agent Jordan Farmar to New Jersey on Monday, but signed Steve Blake last week. Blake likely will share playing time with Fisher.