Alvarado has confirmed a three-year, $14 million contract extension with the Knicks.

June 27th - According to ESPN , José Alvarado will decline his $ 4.5 million player option for next season and sign a new three- year contract with the New York Knicks , totaling over $ 14 million.

On February 5th of this year , Alvarado joined the Knicks from the New Orleans Pelicans via trade. Born in Brooklyn, Alvarado attended the prestigious Kings High School. Now, having completed his contract extension, Alvarado has returned to his hometown team.

Alvarado also confirmed his return on social media, saying, " I'm home! " and adding orange and blue heart emojis after the text to express his excitement about continuing to play for the Knicks.

With the Knicks, Alvarado primarily served as Jalen Brunson 's backup point guard. However, in the crucial Game 4 of the Finals against the San Antonio Spurs, he and Brunson played significant minutes in the fourth quarter, helping the team complete a historic 29- point comeback. He contributed 8 points and 3 assists in the final quarter , becoming a key part of the team's victory.

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