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Jun 27, 2026, 8:47 AM ET

Point guard Jose Alvarado is trading a one-year option for long-term security with the NBA champion Knicks. He is declining his $4.5 million player option to sign a new three-year deal worth more than $14 million, ESPN's Shams Charania reports. Acquired from New Orleans at the deadline, the New York native endeared himself in his hometown with relentless ball pressure off Jalen Brunson's bench. In 28 regular-season games with the Knicks, he averaged 6.6 points, 3.8 assists, 2.0 rebounds, and 1.0 steals in 16.9 minutes. The fantasy value is modest behind a Finals MVP, but Alvarado's steals give him a niche, and he is first in line if Brunson ever sits. His role thinned in the playoffs, yet his Game 4 spark during a record Finals comeback showed why New York brought him back.--Brian Dailisan
Source: Shams Charania
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