Jose Alvarado is heading back to the New York Knicks on a new three-year deal, choosing a return to the team over a $4.5 million player option for next season. ESPN’s Shams Charania reported that the contract is worth more than $14 million.
The move brings the Brooklyn native back to New York after a season in which the Knicks acquired him from the New Orleans Pelicans. Alvarado made the announcement himself on X with a simple message: “I’m Home,” followed by orange and blue hearts.
From backup role to high-leverage minutes
Alvarado was mainly used as a reserve behind Jalen Brunson, but he still played a key role in a defining moment for the Knicks. In Game 4 of the NBA Finals, he shared the floor with Brunson during the fourth quarter of New York’s 107-106 win over the San Antonio Spurs.
That game featured a record comeback from a 29-point deficit, and Alvarado contributed eight points and three assists in the final period. His return gives the Knicks another familiar guard in a rotation that already leaned on him in pressure moments.
Alvarado also comes back to a place with personal meaning. He attended Christ the King High School, and the February 5 acquisition gave him a path back to the city where he grew up.
The Associated Press contributed to this report.
