Jose Alvarado, one of the NBA’s most promising young guards, has solidified his future with the New Orleans Pelicans by agreeing to a two-year, $9 million contract extension. The deal, which includes a player option for the 2026-27 season, allows Alvarado to continue his journey with the team that gave him his first shot in the league.
Alvarado’s story is one of perseverance and hard work. Entering the NBA as an undrafted free agent in 2021, he has already defied many expectations. Over the course of his career thus far, Alvarado has earned approximately $5 million, a testament to his value on the court despite his undrafted status.
The eight-figure contract extension reflects Alvarado's dynamic contributions, both offensively and defensively. Known affectionately as "Grand Theft Alvarado," he has carved out a niche as one of the NBA’s most dangerous turnover generators, especially in the backcourt. His knack for swiping the ball has made him a critical component of the Pelicans' defensive scheme.
In addition to his defensive prowess, Alvarado has shown significant improvement on the offensive end. Last season, he posted a career-best 38% from beyond the arc, highlighting his developing shooting skills. This offensive leap played a considerable role in his recognition, as he finished sixth in the voting for Sixth Man of the Year. Such accolades underscore his ability to contribute significantly off the bench.
The New Orleans Pelicans, despite being over the luxury tax line this season, have recognized the value Alvarado brings to the team at a bargain rate. This financial maneuvering comes at a crucial time, with key players such as Trey Murphy III and Brandon Ingram due for new contracts. The team’s front office is clearly working to balance the books while maintaining a competitive roster.
Alvarado's contract extension is not just a reward for past performance but also an investment in the Pelicans' future. His defensive tenacity and improving offensive skills make him an asset that the team can build around. The player option for the 2026-27 season ensures that Alvarado has some control over his future, a smart move for both the player and the organization.
Over the past three seasons, Alvarado has delivered high-value production. His ability to come off the bench and contribute immediately has made him a fan favorite and an indispensable part of the team's rotation. His journey from undrafted free agent to key player in the Pelicans' roster is a story of resilience and determination.
In summary, Jose Alvarado's contract extension with the New Orleans Pelicans is a win for both sides. The team retains a crucial defensive stalwart and rapidly improving offensive player, while Alvarado secures his financial future with a team that believes in his potential. The future looks bright for "Grand Theft Alvarado" as he continues to make his mark in the NBA.