Pelicans guard Jose Alvarado is headed back home to play for the Knicks.
New York has agreed to a trade with New Orleans to acquire Brooklyn-born guard Jose Alvarado in exchange for Dalen Terry, two second-round picks and cash, according to multiple reports.
The Knicks will send the Pelicans two second-round picks and Terry, who they acquired in a separate deal with Chicago, for Alvarado.
New York receives:
- Jose Alvarado
New Orleans receives:
- Dalen Terry
- Two second-round picks
- Cash considerations
Welcome, Jose! pic.twitter.com/SkvFJow6o5
— NEW YORK KNICKS (@nyknicks) February 6, 2026
The Knicks are bolstering their perimeter defense with the addition of Alvarado. He is averaging 7.9 points, 2.8 rebounds, 3.1 assists and nearly 1 steal per game this season. Alvarado has averaged at least one steal per game in each season of his career.
He should be an immediate help as guard Deuce McBride is headed for surgery on a sports hernia. McBride will be out for an unknown amount of time, per reports.
Alvarado has developed a reputation as a heady defender with a penchant for sneaking up on ball-handlers to make back-court steals. He was known for similar exploits in college, earning the nickname “Grand Theft Alvarado,” and he was named the ACC Defensive Player of the Year in 2021.
A New York native with Puerto Rican ancestry, Alvarado attended Christ the King High School and has played for Puerto Rico’s national team, including at the 2024 Paris Olympics.
McBride has missed the last five games with what the Knicks said was left ankle injury management. While having the ankle evaluated, McBride also was checked for other ailments he’d been dealing with that hadn’t caused him to miss any time, a person told The Associated Press on condition of anonymity. That’s when McBride’s hernia was discovered, per The Associated Press.
The injury was first reported by The Athletic.
McBride has averaged 12.9 points in 35 games, including 14 starts. He is shooting 42% from 3-point range.
Information from The Associated Press was used in this report.
