{"id":176325,"date":"2026-02-05T13:23:44","date_gmt":"2026-02-05T18:23:44","guid":{"rendered":"https:\/\/lastwordonsports.com\/basketball\/?p=176325"},"modified":"2026-02-05T13:23:44","modified_gmt":"2026-02-05T18:23:44","slug":"pelicans-trade-new-york-native-jose-alvarado-to-the-knicks","status":"publish","type":"post","link":"https:\/\/lastwordonsports.com\/basketball\/2026\/02\/05\/pelicans-trade-new-york-native-jose-alvarado-to-the-knicks\/","title":{"rendered":"Pelicans Trade New York Native To The Knicks"},"content":{"rendered":"

NEW YORK\u00a0 \u2014 The New Orleans Pelicans<\/a> are trading Jose Alvarado<\/a> to the New York Knicks,<\/a> Shams Charania of ESPN reported<\/a> on deadline day. The deal sends Alvarado home to New York. He was raised in Brooklyn and played high school basketball in Queens. His home in Brooklyn is less than 45 minutes away from MSG. <\/span>The Knicks are sending Dalen Terry<\/a>, two second-round picks, and cash to the Pelicans . They had just acquired Terry earlier Thursday in a Guerschon Yabusele<\/a> salary dump with Chicago. The Knicks trade for one of the league\u2019s most underrated reserve guards in Jose Alvarado. This trade was suggested<\/a> by our Colleague Scott Anthony back in December so it’s an exciting addition for New York for sure.<\/p>\n

Pelicans Trade New York Native Jose Alvarado To The Knicks<\/h2>\n

Why the Knicks Made the Move<\/strong><\/h3>\n
\"The
Nov 6, 2024; New Orleans, Louisiana, USA; New Orleans Pelicans guard Jose Alvarado (15) celebrates after a three point basket against the Cleveland Cavaliers during the fourth quarter at Smoothie King Center. Mandatory Credit: Matthew Hinton-Imagn Images<\/figcaption><\/figure>\n

The Knicks had limited options to upgrade the bench under first-apron trade restrictions. Terry for Alvarado works. Alvarado impacted<\/a> winning consistently despite playing on a struggling New Orleans teams over the years.<\/p>\n

They gain $1 million in apron space. They can now sign a 15th player. Chris Paul<\/a> could become available, depending on how things unfold. The Knicks figure to stay active in the buyout market.<\/p>\n

Cap analyst Yossi Gozlan highlighted New York\u2019s options to retain Alvarado. \u201cJose Alvarado has a $4.5 million player option for next season. If he declines it, the Knicks can re-sign him using full Bird rights. If he picks it up, they could extend him starting September 30 for up to four years and roughly $68 million.\u201d<\/p>\n

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Jose Alvarado has a $4.5 million player option for next season. <\/p>\n

If he declines it, the Knicks can re-sign him with his full Bird rights.<\/p>\n

If he picks it up, they could extend him starting on September 30 for up to four years and roughly $68 million. https:\/\/t.co\/hY2j4EYKbc<\/a><\/p>\n

— Yossi Gozlan (@YossiGozlan) February 5, 2026<\/a><\/p><\/blockquote>\n