The New Orleans Pelicans have agreed to a two-year, $9 million contract extension with guard Jose Alvarado in a notable move. Sources like ESPN's Bobby Marks confirmed the move, which seals the commitment of the team to hold back main talents for the next NBA season.
Details of the Extension
Contract Value: The extension is valued at $9 million; his salary for the 2025-26 season will be slotted at $4.5 million.
Player Option: Alvarado will have a player option for the 2026-27 season, giving him flexibility should he look to explore free agency later on.
Guaranteed Salary: It guarantees Alvarado's previous club option of around $1.988 million for the 2024-25 season, securing him in town for at least two more years.
Alvarado's Performance and Impact
Over his three-year NBA career, Jose Alvarado has been a godsend to the Pelicans. Last season was a great performance in which he averaged 7.1 points and 2.3 rebounds in 56 games, hence proving himself to be a very strong bench contributor.
He shot quite well, too, with a field goal percentage of 41.2% and three-point shooting of 37.7%, so opponents know he is dangerous enough to score if open.
On the defensive end, he's developed a penchant for a tenacious brand of basketball, including over a steal per contest in back-to-back seasons.
The hustle and forced turnovers have earned him nicknames like "Grand Theft Alvarado" for being so effective on both sides of the floor.
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