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Jan 31, 2026; Philadelphia, Pennsylvania, USA; New Orleans Pelicans guard Jose Alvarado (15) reacts to his three pointer against the Philadelphia 76ers during the fourth quarter at Xfinity Mobile Arena. Mandatory Credit: Bill Streicher-Imagn Images Bill Streicher-Imagn Images

Jose Alvarado Trade Exposes Knicks Real Priority

Originally posted on New York Knicks on SI
By Jayesh Pagar | Last updated Feb 6, 2026 7:00 AM ET

The New York Knicks are rolling right now. Eight straight wins, including that wild double-overtime battle against the Denver Nuggets. They're tied for second in the East and playing their best basketball of the season.

So when the trade deadline rolled around, everyone expected something big. Giannis Antetokounmpo rumors had been swirling for weeks. Mock trades flew around with the Knicks sending out multiple starters to the Milwaukee Bucks. The noise kept building.

Instead, New York made a quiet move. They sent Dalen Terry, two second-round picks, and cash to New Orleans for Jose Alvarado. That's it. No blockbuster, no franchise-shaking deal.

The message couldn't be clearer: they're not messing with what's working. This core reached the Eastern Conference Finals last year. They won the NBA Cup in December. The chemistry is real, and breaking that up for Giannis would mean starting from scratch mid-season.

Plus, the Knicks have been dominant lately. They destroyed Brooklyn by 54 points on Jan. 21 and had outscored opponents by 173 total points over their last seven games before the Nuggets clash. That's the best seven-game differential in franchise history. Trading away Towns or any starter right now would have been a massive gamble when the team is clicking like this.

The front office clearly sees what fans see. This group knows how to win together. They've proven it in big moments. Chasing Giannis would've meant gutting the roster for an uncertain fit, and management wasn't willing to take that risk during a legitimate championship run.

McBride Injury Forced Knicks Hand

New York Knicks guard Miles McBride John Jones-Imagn Images

Miles McBride needs surgery and may not be back until the playoffs. That changed everything. He was the primary backup point guard, the guy who gave Brunson rest without the offense falling apart. Losing him created an urgent need in the rotation.

Alvarado solves that problem perfectly. He's averaging 7.9 points and 3.1 assists this season while shooting 36.3 percent from three. But the stats don't tell the whole story about what he brings.

His defense is what matters most. They called him "Grand Theft Alvarado" at Georgia Tech, and he still plays that way. He hunts steals relentlessly and averages 3.5 deflections per 36 minutes despite being just 6-foot-1. That scrappy energy fits exactly what the Knicks have built during this streak.

The contract works too. Alvarado has a $4.5 million player option next season, giving the team flexibility without cap issues. Low cost, addresses the immediate need, doesn't touch the core. He's a Brooklyn native too, which adds another layer to this homecoming story.

The Knicks chose the smart move over the flashy one. They identified the real problem and fixed it without creating new ones. Giannis might still be available this summer, but right now New York is betting on the group that's already winning.

This article first appeared on New York Knicks on SI and was syndicated with permission.

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