A long anticipated Knicks move finally came to fruition.
They are acquiring Jose Alvarado from the Pelicans in exchange for Dalen Terry and two second-round picks, The Post’s Stefan Bondy confirmed, ahead of Thursday’s 3 p.m. trade deadline.
The Knicks had just gotten Terry from the Bulls for Guerschon Yabusele late Wednesday night, and now rerouted him for an upgrade at backup point guard.
Pelicans guard Jose Alvarado (15) reacts to his three pointer against the Philadelphia 76ers. Bill Streicher-Imagn Images
A strong defender and capable ball-handler, Alvarado – a New York City native – provides needed depth behind Jalen Brunson.
Tyler Kolek has had mixed results in that role.
Miles McBride, who is more of a combo guard, is now out for an indefinite period of time with a sports hernia.
Alvarado, 27, has built a reputation as a relentless and dogged on-ball defender, often picking up opponents full court and finding ways to get under their skin. On the other end of the floor, he is averaging 7.9 points and 3.1 assists per game.
Jose Alvarado #15 of the New Orleans Pelicans dives after loose ball during the game against the Los Angeles Lakers on January 6, 2026. NBAE via Getty Images
Alvarado has a $4.5 million player option for next year. By trading away Yabusele, the Knicks got out of his player option for $5,775,000 for next year. And subsequently found a player who should have a much greater impact.
