Knicks Sign Jose Alvarado to Three-Year Deal

Guard Jose Alvarado has agreed to return to the New York Knicks on a multiyear contract, the team announced Friday, securing a key reserve from the franchise’s first NBA championship team in 53 years. Alvarado declined a $4.5 million player option for the upcoming season to finalize the new deal.

The agreement is a three-year contract reportedly worth approximately $14 million, according to multiple reports. The Knicks have not disclosed the full terms, but the move ensures Alvarado remains with his hometown team after being acquired from the New Orleans Pelicans in a midseason trade last February.

A Brooklyn native who attended Christ the King High School in Queens, Alvarado became a valuable rotation piece for the championship squad. Primarily serving as a backup to All-Star Jalen Brunson, the 28-year-old guard provided elite perimeter defense and energetic play off the bench. His defensive intensity and ability to pressure opposing ball-handlers earned him the nickname "Grand Theft Alvarado."

Alvarado’s impact was highlighted during the NBA Finals. In Game 4 against the San Antonio Spurs, with the Knicks facing a 29-point deficit, he scored eight crucial points in the fourth...