Jose Alvarado Signs Three-year Deal Worth $14 Million With Knicks

WHO:

NY Post - Jose Alvarado, New York Knicks

RealGM Basketball - Jose Alvarado, New Orleans Pelicans, Jalen Brunson, San Antonio Spurs

WHAT:

NY Post - Jose Alvarado signed a three-year contract with the New York Knicks worth $14 million.

RealGM Basketball - Alvarado declined his $4.5 million player option with the Knicks to sign the new contract.

RealGM Basketball - Alvarado played a critical role in the Knicks' comeback win in Game 4 of the Finals.

WHERE:

RealGM Basketball - The Knicks acquired Alvarado at the trade deadline from the New Orleans Pelicans.

WHEN:

RealGM Basketball - The contract is for three years.

WHY:

RealGM Basketball - Alvarado's decision to decline his player option was likely motivated by the opportunity to secure a more lucrative contract.

HOW:

RealGM Basketball - Alvarado provided backup point guard minutes behind Jalen Brunson upon his trade to the Knicks.

(UPDATED June 26, 2026 23:22 UTC)

Jose Alvarado has signed a three-year contract with the New York Knicks worth $14 million after declining his $4.5 million player option. The Knicks acquired Alvarado from the New Orleans Pelicans at the trade deadline, where he played a key role in their comeback win during Game 4 of the Finals. His decision to forgo the player option was likely driven by the chance to secure a more lucrative deal, and he provided valuable backup minutes behind Jalen Brunson since joining the team.