"I want to express my deepest gratitude to Derek for everything he has meant to this organization over the years," said Lakers owner Dr. Jerry Buss. "Few who have worn the Lakers uniform have done so with as much class as Derek, both on the court and in the community. From his famous 0.4 shot in San Antonio to his clutch performances in the Finals against Orlando and Boston when it mattered most, Derek will always hold a special place not only in my heart, but in the heart of Lakers fans everywhere."
Fisher, in his 16th NBA season, averaged 5.9 points, 2.1 rebounds and 3.3 assists while shooting 38.3 percent from the field in 43 games for Los Angeles this season.
He departs the franchise ranking second in three-pointers made (846), fifth in games played (915), seventh in steals (968). Fisher also holds the current iron-man streak with 538 consecutive games played (416 starts).
Hill, on the other hand, is in his third pro season out of Arizona. He has picked up averages of 5.0 points and 4.8 rebounds per contest in 32 games for the Rockets.
The former eighth-overall pick of the Knicks in the 2009 draft holds career averages of 5.4 points and 4.2 boards in 151 games.