The Knicks have reportedly re-signed Jose Alvarado, a key reserve on their NBA title squad.
NEW YORK (AP) — Jose Alvarado is reportedly returning to the New York Knicks on a multiyear contract.
Alvarado declined his player option and is working with the NBA champions on a three-year deal. ESPN first reported the plan, saying Alvarado would make more than $14 million with the new deal.
The guard was acquired from New Orleans during the season and had a player option for $4.5 million for next season.
“I’m home,” Alvarado wrote on X, ending his post with a series of orange and blue hearts.
I’m Home 🧡💙🧡💙🧡
— Jose Alvarado (@AlvaradoJose15) June 26, 2026
Alvarado indeed came home on February 5, when the Knicks acquired the Brooklyn native who attended Christ the King High School. He was primarily a backup behind Jalen Brunson but was on the floor with the eventual NBA Finals MVP for most of the fourth quarter of the Knicks’ 107-106 victory over San Antonio in Game 4 of the NBA Finals, when they made a record comeback from a 29-point deficit.
Alvarado had eight points and three assists in the period.
New York guard Jose Alvarado is declining his $4.5 million player option and intends to sign a new three-year, $14-plus million deal to return to the Knicks, sources tell ESPN. Knicks made it a priority to retain the NY native who played key role on a historic championship team. pic.twitter.com/zZHXbOVorX
— Shams Charania (@ShamsCharania) June 26, 2026
