Alvarado joined the Pelicans in 2021-22 after going undrafted in the 2021 NBA Draft. Since then, he’s solidified himself as a consistent role player in the league.
The 27-year-old holds career averages of 8.1 points, 2.3 rebounds, 3.1 assists and 1.1 steals in 268 games.
This season, Alvarado is averaging 7.9 points and 3.1 assists in 21.9 minutes per game.
McBride is averaging 12.9 points in 28 minutes per game for the Knicks this season.
The Pelicans take on Terry, whom the Knicks acquired on Wednesday from the Chicago Bulls for Guerschon Yabusele.
Alvarado has a $4.5-million player option for next season, and the Knicks are now $1.1 million below the second apron.
