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League: NBASport: BasketballCountry: United StatesCategory: Scores & Results

Jose Alvarado signs new deal with Knicks after declining player option

Yahoo Sports • 1 min read • Latest: Jun 26, 2026, 10:30 PM

Last updated Jun 26, 2026

Jose Alvarado signs new deal with Knicks after declining player option
Summary

Jose Alvarado has declined his $4.5 million player option to sign a three-year deal worth over $14 million with the New York Knicks. Alvarado, a Brooklyn native, played a key role in the Knicks' recent championship run, averaging 6.6 points, 3.8 assists, and 2.0 rebounds off the bench in 28 regular-season games. This decision comes as the Knicks focus on retaining key players during the upcoming free agency period, which opens on June 30. Alvarado expressed his commitment to the Knicks by sharing on social media that he feels at home with the team.

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Yahoo Sports
Status Watch
  • •Alvarado declines $4.5 million option for a new three-year deal.
  • •He played a significant role in the Knicks' championship run.
  • •The Knicks acquired Alvarado from New Orleans in February.
  • •Free agency opens on June 30, with roster decisions pending.
  • •Alvarado expressed his commitment to the Knicks on social media.
Latest Updates
  • 10:30 PMYahoo Sports — Jose Alvarado declines option, stays home by signing new Knicks deal
What they're saying
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The Brooklyn-born guard turned down $4.5 million or a shot at the open market to return to the team he just helped win a title.

Related Teams & Leagues
New York KnicksSan Antonio SpursNBABasketball

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