The Jazz are holding a press conference right now, apparently to announce that Derek Fisher will no longer play for the Jazz. Fisher has decided to have the team release him, which will mean Fisher will lose out on the $20 million remaining on his contract. Fisher wants to take a temporary break from basketball to look after his child, whose health condition continues to be a problem.

While the Jazz would benefit from some extra cap room and a roster spot, the Jazz will miss Fisher’s leadership after his great run with the Jazz through the 2007 playoffs. Fisher is not retiring, however, once released from his contract, he will not sign with another team this season.

Update below:
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