OKC Thunder Reportedly Sign Free Agent Derek Fisher

After being released by the Dallas Mavericks in December, free-agent point guard Derek Fisher has signed with the Oklahoma City Thunder.

UPDATE: Monday, Feb. 25, at 11:21 a.m. ET by Brandon Galvin

The Thunder have announced the signing of Derek Fisher this morning on Twitter.

---End of update---

Adrian Wojnarowski of Yahoo! Sports first reported the news on Sunday evening.

Wojnarowski tweeted on Sunday:

ESPN's Marc Stein first reported that a deal was imminent. 

Fisher played in 20 regular-season games for the Thunder after clearing waivers in the 2011-12 season and signed with the Mavericks in November. After the Thunder traded Eric Maynor before the deadline last week, they needed some depth at the point guard position.

Fisher has never been an All-Star or the star of any team, but he's been a valuable player throughout his career and has five championship rings to show for it. The former Los Angeles Laker is in the midst of his 17th NBA season, and he's shot 37 percent from downtown for his career (44 percent from beyond the arc in nine games with the Mavericks this season).

While the 38-year-old Fisher posted unimpressive numbers during the regular season for the Thunder last season, he turned it on during Oklahoma City's run to the NBA Finals in the playoffs (38 percent from downtown) and he's earned the distinction of being a leader in the locker room throughout his career.

The Thunder's other backup point guard, second-year pro Reggie Jackson, played 16 minutes in the team's 102-72 victory over the Chicago Bulls on Sunday and is averaging 11.8 minutes this season.

The Thunder are currently 41-15, holding the No. 2 seed in the Western Conference. Fisher's extensive playoff experience may prove valuable in the postseason as the club looks to capture the title after being burned by the Miami Heat last season.