Jose Alvarado is staying in New York. After helping the New York Knicks capture the 2026 NBA championship, the Brooklyn native is set to return on a new three-year contract worth more than $14 million.
According to ESPN, the new agreement comes after Alvarado declined his $4.5 million player option for next season. Acquired from the New Orleans Pelicans at the trade deadline, the veteran guard quickly became a fan favorite thanks to his relentless defense, energy off the bench, and unmistakable New York roots. Shortly after news of the deal surfaced, Alvarado celebrated on X with a simple message: "I'm Home," followed by a string of orange and blue heart emojis.
That connection to the city has only grown since the Knicks' championship run. Born in Brooklyn and a graduate of Christ the King High School in Queens, Alvarado became one of the defining personalities of New York's postseason.
Days after the title-clinching win, he joined the city's Puerto Rican Day Parade, riding on a float alongside New York City Mayor Zohran Mamdani as thousands of fans lined the streets. Addressing the crowd, Alvarado thanked supporters for embracing him.
“Thank you guys so much; it means the world to me. Really,” he said. “I'm a kid from Brooklyn. And the Knicks party f*ckin' did it.”
While he played a reserve role behind Finals MVP Jalen Brunson, Alvarado delivered several key moments throughout the championship series. His biggest contribution came in Game 4 against the San Antonio Spurs, when he scored eight fourth-quarter points and added three assists as New York erased a record 29-point deficit to pull out a 107-106 victory.
Alvarado also generated one of the postseason's most viral highlights—though it had nothing to do with a basket. During Game 3, he dove into the front row chasing a loose ball and accidentally crashed into former New York City mayor Michael Bloomberg.
