New York Knicks guard Jose Alvarado is declining his $4.5 million player option for the upcoming season and is finalizing a new three-year, $15 million deal to return to the reigning champions, according to Chris Haynes.
The agreement ensures that Alvarado remains a core piece of the New York Knicks rotation as they look to defend their title. By declining the player option, Alvarado effectively replaces a one-year commitment with a long-term contract that provides both the player and the organization with stability over the next three seasons. The deal will keep the defensive specialist in New York through the 2028-29 NBA season.
Alvarado has become a vital part of the New York bench, known throughout the league for his relentless defensive pressure and high-energy play. His decision to return to the Knicks comes immediately following a season where the franchise reached the pinnacle of the NBA. Keeping Alvarado in the backcourt was a priority for the front office as they aim to maintain the depth and identity that led to their recent championship success.
This is a developing story. Check back for updates.
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