Reports: Champion Knicks retain key reserve Jose Alvarado

The Knicks have reportedly re-signed Jose Alvarado, a key reserve on their NBA title squad.

NEW YORK (AP) —

Jose Alvarado is reportedly returning to the New York Knicks on a multiyear contract.

Alvarado declined his player option and is working with the NBA champions on a three-year deal.

ESPN first reported the plan

, saying Alvarado would make more than $14 million with the new deal.

The guard

was acquired from New Orleans

during the season and had a player option for $4.5 million for next season.

“I’m home,”

Alvarado wrote on X

, ending his post with a series of orange and blue hearts.

I’m Home 🧡💙🧡💙🧡

— Jose Alvarado (@AlvaradoJose15)

June 26, 2026

Alvarado indeed came home on February 5, when the Knicks acquired the Brooklyn native who attended Christ the King High School. He was primarily a backup behind Jalen Brunson but was on the floor with the eventual

NBA Finals MVP

for most of the fourth quarter of the

Knicks’

107-106 victory

over San Antonio in Game 4 of the NBA Finals

, when they

made a record comeback

from a 29-point deficit.

Alvarado had eight points and three assists in the period.

New York guard Jose Alvarado is declining his $4.5 million player option and intends to sign a new three-year, $14-plus million deal to return to the Knicks, sources tell ESPN. Knicks made it a priority to retain the NY native who played key role on a historic championship team.

pic.twitter.com/zZHXbOVorX

— Shams Charania (@ShamsCharania)