Jose Alvarado is in the middle of his fifth NBA season (all with the New Orleans Pelicans).
The former Georgia Tech star is averaging 7.9 points, 2.8 rebounds and 3.1 assists per contest while shooting 41.8% from the field and 36.3% from three-point range in 41 games.
On Thursday afternoon, Alvarado was traded to a new team.
NBA World Reacts To New York Knicks Trading For Jose Alvarado
Via ESPN’s Shams Charania: “Just in: The New Orleans Pelicans are trading Jose Alvarado to the New York Knicks, sources tell ESPN. Homecoming for the Pelicans guard.”
The Knicks are sending Dalen Terry, two second-round picks and cash to the Pelicans for Alvarado, sources said. https://t.co/Dqb6As7uAI
— Shams Charania (@ShamsCharania) February 5, 2026
MORE: Luke Kennard Contract and Salary: How Much Is the Lakers Sharpshooter Earning After Trade?
Here’s what people were saying about the deal:
Yossi Gozlan: “Jose Alvarado has a $4.5 million player option for next season. If he declines it, the Knicks can re-sign him with his full Bird rights. If he picks it up, they could extend him starting on September 30 for up to four years and roughly $68 million.”
Sam Quinn: “Jose Alvarado has been in the NBA for five years. The Pelicans have been better with him on the floor than off of it in each of those five years, with the gap getting as high as 10.9 points per 100 possessions. Never understood why this administration didn’t seem to value him.”
@KnicksMuse: “Basically turned a bad Yabu contract into Jose Alvarado. Even with giving up two 2nds, great work from the front office.”
@yankeesman77: “Yes, Jose can shoot. And yes, Jose will be beloved in NYC, his hometown. Go be great on one of the bigger stages in the NBA, Jose Alvarado. I’ll miss you.”
Pelicans are trading Jose Alvarado to the Knicks, per @ShamsCharania 👀 pic.twitter.com/d5GokbBCQa
— Bleacher Report (@BleacherReport) February 5, 2026
KEEP READING: NBA Insider Reveals Western Conference Team Isn’t a ‘Realistic’ Trade Option For Giannis Antetokounmpo
Alvarado went undrafted in 2021.
He has career averages of 8.1 points, 2.3 rebounds, 3.1 assists and 1.1 steals per contest while shooting 41.2% from the field and 35.1% from three-point range in 268 games (34 starts).
Right now, the Knicks are the second seed in the Eastern Conference with a 33-18 record in 51 games.
They are in the middle of an eight-game winning streak.
Last season, the Knicks made the Eastern Conference finals for the first time in 25 years (before losing to Tyrese Haliburton and the Indiana Pacers in six games).
