?Los Angeles Lakers Derek Fisher greets fans during the NBA Championship parade in Los Angeles, California, June 21, 2010. [Xinhua/Reuters Photo]

Veteran point guard Derek Fisher announced on Monday that he would stay with the reigning champions Los Angeles Lakers.

Being a free agent this offseason, the 36-year-old Fisher spoke with several teams including the Miami Heat, who collected a luxurious squad with LeBron James, Dwyane Wade and Chris Bosh.

But the five-time NBA champion, who spent 11 of his 14 NBA seasons with the Lakers, decided to stay in L.A. and hunt for his sixth champion ring.

"I have decided to continue with Kobe, continue with our teammates and the fans of Los Angeles. 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," Fisher said in a statement on his website.

Fisher started all 82 games last season, averaging 7.5 points and 2.5 assists. He elevated his game in the playoffs and finals, averaging 10.3 points to help the Lakers win their second-straight title.