Defensive specialist Jose Alvarado has agreed to a two-year, $9 million contract extension with the New Orleans Pelicans, in accordance with The Athletic. The deal comes with a participant choice for the 2026-27 season, that means that Alvarado is absolutely solely locking in another season in New Orleans: the 2025-26 marketing campaign. An undrafted free agent in 2021, Alvarado has earned round $5 million whole to this point in his profession.
He has vastly outperformed each his expectations and wage so far in his profession, ending sixth in Sixth Man of the Yr voting final season. He is without doubt one of the NBA’s most harmful turnover mills, significantly within the backcourt, with “Grand Theft Alvarado” changing into on a regular basis parlance amongst gamers and followers alike.
He is additionally coming off of a season through which he shot a career-best 38% on 3-pointers. His comparatively diminutive stature (he is listed at 6-foot) limits his versatility, however he performs larger than that measurement and might match comfortably alongside nearly any kind of participant.
Signing Alvarado to a team-friendly deal, even when it solely assures him another 12 months in New Orleans, is a gigantic win for the Pelicans. New Orleans is over the luxurious tax line this season, and historical past says they’ll attempt to duck it earlier than the top of the 12 months. That can be a lot tougher throughout the 2025-26 season. Each Trey Murphy III and Brandon Ingram are due new contracts, and whereas they could not retain Ingram, they nonetheless must discover a long-term answer at middle. Between Murphy and whichever new large man they find yourself selecting, they’re destined to have an costly roster. Retaining a key bench piece at a low quantity will go a great distance for them in having contending-caliber depth.
New Orleans has gotten nice manufacturing out of Alvarado at a discount charge for the previous three seasons. Now they’re going to proceed to take action for at the least this 12 months and subsequent. Top-of-the-line backup guards in basketball is staying with the Pelicans for at the least one additional 12 months.
