Jose Alvarado makes NBA Draft trade easier for Knicks with contract decision

The New York Knicks are still coming off the high of winning the 2026 NBA Championship, defeating the San Antonio Spurs in five games in the NBA Finals. The Knicks are set to bring back most of their core players for next year, although they do have some key names hitting the open market this offseason.

One player who can potentially become a free agent is reserve point guard Jose Alvarado, whom the Knicks acquired from the New Orleans Pelicans at the deadline this past season. Recently, NBA insider Jake Fischer reported a big update on Alvarado’s contract situation as free agency approaches.

“While the reigning champion New York Knicks assess their trade options for picks No. 24 and 31 in this week’s NBA Draft, sources say reserve guard Jose Alvarado has agreed to move the decision date on his $4.5 million player option for 2026-27 from tomorrow, June 22, back to June 26,” reported Fischer on X, formerly Twitter.

It remains to be seen how much money Alvarado could command on the open market if he were to decline his player option with the Knicks and enter free agency, but this latest decision gives both sides some more breathing room ahead of free agency.

Alvarado had some big moments in the Knicks’ playoff run, including in Game 4 of the NBA Finals, when he scored multiple key buckets in the fourth quarter of the Knicks’ epic comeback in order to help them go up 3-1. His defense, energy, and perimeter shooting have all been solid attributes for the Knicks off the bench, and it’s clear that the team would love to have him back next year and beyond.

In any case, NBA free agency is slated to open up on June 30.

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