Jose Alvarado, known for his defensive prowess, has signed a lucrative two-year contract extension worth $9 million with the New Orleans Pelicans. According to The Athletic, the deal includes a player option for the 2026-27 season, effectively committing Alvarado to the team for the 2025-26 campaign. Despite going undrafted in 2021, Alvarado has already earned around $5 million in his career so far.
Alvarado exceeded expectations by finishing sixth in Sixth Man of the Year voting last season. His ability to generate turnovers, especially in the backcourt, has earned him the nickname “Grand Theft Alvarado” among players and fans. Additionally, he showcased his shooting skills by hitting a career-best 38% of his 3-point shots last season.
Standing at 6 feet tall, Alvarado’s size may limit his versatility, but his on-court performance speaks volumes. He has proven to be a valuable asset who can complement any type of player seamlessly. By securing Alvarado on a team-friendly deal, the Pelicans have made a strategic move to bolster their roster without breaking the bank.
As the Pelicans navigate the challenges of the luxury tax line this season, retaining key players like Alvarado at a reasonable cost is crucial for maintaining a competitive edge. With upcoming contract negotiations for Trey Murphy III and Brandon Ingram, the team faces financial constraints that make Alvarado’s extension even more significant.
Having consistently delivered stellar performances at a bargain rate, Alvarado’s contract extension ensures that the Pelicans will continue to benefit from his skills for at least the next two seasons. His presence as one of the top backup guards in the league solidifies the team’s depth and competitiveness moving forward.
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