New York Knicks guard Jose Alvarado is declining his $4.5 million player option for the upcoming season and intends to sign a new three-year, $14-plus million deal to return to the franchise, according to reports from ESPN.
The decision to decline the option allows Alvarado to lock in a more lucrative, long-term commitment with his hometown team. The Knicks reportedly made it a primary objective this offseason to retain the veteran guard, who played a key role in the team's recent historic championship run. His defensive intensity and leadership in the second unit were cited as vital components of the team's success over the past year.
Alvarado, known for his relentless energy on both ends of the floor, has become a staple of the New York rotation. By securing this three-year deal worth upwards of $14 million, the Knicks maintain their backcourt depth as they look to defend their title in the upcoming season. The specific year-by-year breakdown of the contract is expected to be released once the signing becomes official during the league's transaction window.
The Knicks' front office continues to prioritize roster continuity following their championship victory, with Alvarado representing a major piece of that puzzle. This signing ensures the New York native remains in a Knicks uniform for the foreseeable future as the team prepares for another deep postseason run.
This is a developing story. Check back for updates.
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