Jan 25, 2026; San Antonio, Texas, USA; New Orleans Pelicans guard Jose Alvarado (15) sets up to shoot in the second half against the San Antonio Spurs at Frost Bank Center. Mandatory Credit: Daniel Dunn-Imagn Images Daniel Dunn-Imagn Images

Knicks Hit Home Run With Jose Alvarado Trade

Originally posted on New York Knicks on SI
By Jeremy Brener | Last updated Feb 5, 2026 5:00 PM ET

The New York Knicks are making a small upgrade at the trade deadline by acquiring Jose Alvarado in a deal with the New Orleans Pelicans.

The Knicks are sending two second-round picks and Dalen Terry, who they acquired in a swap with the Chicago Bulls for Guerschon Yabusele. The Knicks are getting a strong defender and an energizer in the backcourt, which is why they have been granted an "A" for their move to acquire Alvarado.

Alvarado, 27, is viewed as one of the best defensive guards in the league. He played four seasons at Georgia Tech before going undrafted in the 2021 NBA draft. The New Orleans Pelicans signed him to a two-way contract out of training camp, and he eventually grew towards becoming a regular rotation player on the team.

In his rookie season, his quick steals helped him earn the nickname "Grand Theft Alvarado," and it has stuck ever since his first season in the league. While he is mostly known for his defense, his offensive game has improved over the course of his career.

New Orleans Pelicans guard Jose Alvarado reacts to his three pointer against the Philadelphia 76ers Bill Streicher-Imagn Images

In 2023-24, Alvarado was a candidate for the league's Sixth Man of the Year award. Only Bogdan Bogdanovic, Norman Powell, Bobby Portis, Malik Monk and Naz Reid received more votes than him.

In 2024-25, Alvarado started 23 games for the Pelicans and averaged a career-high 10.3 points per game to go with 4.6 assists. He also averaged a career-high 1.3 steals per game, living up to the "Grand Theft Alvarado" nickname.

Knicks Ace Alvarado Trade

With Miles McBride needing surgery on his ankle, the Knicks needed to add a player to their backcourt. Alvarado should fit right in and take over McBride's role while he is on the sidelines. Eventually, McBride should return to the court in time for the playoffs. But with the surgery yet to happen, there is still a lot up in the air.

Ultimately, the Knicks have insurance for the guards off the bench, and that is why this deal is such a smart one for the team. They bring in someone who can bring a jolt of energy to the roster. Someone fans will connect to immediately and a player that will give his all every time he is out on the court.

It's a small deal, but the Knicks could not have had a bigger impact on such a minor trade before the deadline.

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

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