Fan-favorite backup point guard Jose Alvarado remains in New Orleans.
The Pelicans agreed to a two-year, $9 million extension for Alvarado – with a player option in year two – a broken story by Shams Charania of The Athletic. Alvarado is under contract for the upcoming season for just under $2 million, then he’ll make more than double that amount the following season, with a player option for 2026-27.
Alvarado averaged 7.1 points per game last season off the bench, shooting 37.7 percent from 3, and he finished sixth in Sixth Man of the Year voting. This season he will support Dejounte Murray at point (CJ McCollum will likely also get some minutes at point during the season).
Of course, what “Grand Theft Alvarado” is best known for is sneaky backcourt robberies.
This is a good deal for the Pelicans, keeping a quality backup point guard at a good price. It’s also a big raise for Alvarado, and he can hit the market again in a few seasons if he wants.
