Pelicans Trade Jose Alvarado To Knicks
9:02 pm: The trade is official, according to the Knicks (Twitter link). New York also acquired the draft rights to Latavious Williams, a 36-year-old forward who is currently playing in Saudi Arabia, tweets Steve Popper of Newsday.
11:33 am: New York native Jose Alvarado is heading home, according to Shams Charania of ESPN, who reports (via Twitter) that the Pelicans have agreed to a deal that will send the fifth-year guard to the Knicks.
According to Ian Begley of SNY.tv (Twitter link), New York will send a pair of second-round picks along with Dalen Terry to New Orleans in exchange for Alvarado. The Pelicans will also receive cash, per Charania (Twitter link).
The two second-rounders headed to New Orleans are 2026 and 2027 selections, adds James L. Edwards of The Athletic (Twitter link). Jake Fischer of The Stein Line (Twitter link) has the full details on those selections — the 2026 pick figures to be Detroit’s second-rounder, while the 2027 pick will be the second-most favorable of four teams’ picks.
Alvarado had been connected to the Knicks in rumors for much of the season leading up to the trade deadline. New York was in the market for backcourt help and the 27-year-old was viewed as a logical fit due in part to his affordable $4.5MM cap hit, which the Knicks could accommodate by sending out Guerschon Yabusele ($5.5MM).
The Pelicans reportedly weren’t interested in taking back Yabusele, whose contract includes a 2026/27 player option, so the Knicks found another taker, making a deal with Chicago for Terry, and will flip the newly acquired forward to New Orleans in this deal — it’s also possible the two moves will be officially completed as a single transaction.
Considered a tenacious defender who brings energy off the bench, Alvarado has averaged 7.9 points, 3.1 assists, and 2.8 rebounds in 21.9 minutes per game across 41 appearances for the Pelicans this season. His shooting line is .418/.363/.833.
Alvarado’s contract features a $4.5MM player option for next season. If he opts out of his deal, the Knicks would have the ability to re-sign him using his Bird rights, but they may prefer for him to opt in and negotiate an extension that begins the following season, since it would help keep the team’s payroll in check for 2026/27.
The Knicks’ need for backcourt depth was heightened on Thursday as the team got word that Miles McBride will require core muscle surgery that could sideline him until the postseason, so Alvarado is well positioned to take on a significant role upon joining his new team.
New York will now have enough breathing room below its second-apron hard cap to sign a 15th man to a minimum-salary contract rather than having to wait until late in the season to do so.
As for the Pelicans, while they were widely viewed as one of the biggest potential sellers at this year’s deadline, they’ve been quiet to this point, having reportedly told teams they wouldn’t be moving prime trade chips like Zion Williamson, Trey Murphy III, and Herbert Jones. While potential suitors believed that stance might change if the offers were strong enough, New Orleans hasn’t been convinced to move anyone besides Alvarado so far.
Trade Rumors: Giannis, Morant, Alvarado, Knicks, Raptors
While Thursday is usually the busiest day of the NBA’s trade deadline week, Tuesday and Wednesday have been more active than usual this season, observes Fred Katz of The Athletic.
There are a number of reasons why that may be the case, but one front office executive who spoke to Katz believes teams are reacting to what happened at last year’s deadline, when physical exams affected two trade agreements. The Sixers and Mavericks slightly reworked the terms of their Caleb Martin/Quentin Grimes deal due to concerns about Martin’s physical, while the Lakers and Hornets rescinded their Mark Williams trade as a result of Williams’ physical.
The Philadelphia/Dallas deal was agreed to and finalized on the Tuesday before the deadline, which allowed the two teams to conduct physical and then amend the terms on Thursday. However, because Los Angeles and Charlotte finalized their deal on Thursday, the issues with Williams’ physical didn’t arise until after the deadline, when negotiations couldn’t be reopened. At that point, the Lakers had just two options: approve the deal anyway or nix it altogether.
Several teams making deals at this year’s deadline may have those situations in the backs of their mind, Katz explains, prompting them to get their business done a little earlier in the week.
Here are more trade rumors from around the NBA, with the deadline just over five hours away:
- The Timberwolves and Heat don’t believe they’re out of the running for Giannis Antetokounmpo, but like Golden State, they remain skeptical that the Bucks are ready to get a deal done today, reports Jake Fischer of The Stein Line (Twitter link). Fischer, who previously identified Milwaukee as a team to watch on the Ja Morant front, also continues to hear that the Bucks remain engaged with the Grizzlies about the star point guard.
- Pelicans guard Jose Alvarado remains on the Knicks‘ radar, according to Ian Begley of SNY.tv (Twitter link). While New York reportedly didn’t have much luck selling New Orleans on a deal that included Guerschon Yabusele, the team may have more success with Dalen Terry‘s expiring contract after agreeing to send Yabusele to Chicago. The Knicks have also expressed interest in Yves Missi, but the Pelicans have reportedly insisted on a first-round pick for him to this point. New York’s only tradable first-rounder is Washington’s top-eight protected 2026 pick, which will likely turn into second-rounders.
- It’s been a busy week for the Bulls, who have finalized three trades and agreed to two more, but they may not be done dealing yet. According to Joe Cowley of The Chicago Sun-Times, the Bulls’ front office was still talking to teams as of Wednesday night, with a “focus” on the Pelicans and Rockets. Chicago has been linked to Zion Williamson and Missi from New Orleans and Tari Eason from Houston, Cowley notes. However, he says the Bulls haven’t made real progress on the Pelicans’ players, and reports have indicated the Rockets are very resistant to moving Eason.
- After agreeing to two minor deals on Wednesday to duck the luxury tax and add Trayce Jackson-Davis, the Raptors are unlikely to make a major move ahead of Thursday’s deadline, Michael Grange of Sportsnet (Twitter video link) and TSN’s Josh Lewenberg (Twitter video link) said during TV appearances. Toronto has been linked to several notable big men, but some (Anthony Davis and Jaren Jackson Jr.) have been traded to other teams, while Domantas Sabonis appears likely to remain in Sacramento.
Knicks Rumors: Dosunmu, Towns, Bridges, Trade Tiers, More
Within a trade deadline guide for the Knicks, James L. Edwards III of The Athletic mentions Bulls guard Ayo Dosunmu as a player New York might be interested in. The Knicks are fans of Dosunmu’s game, but it would “cost a lot” to acquire him, says Stefan Bondy of The New York Post (Twitter link).
Edwards specifically points to Miles McBride as a player the Knicks might have to give up in a deal for Dosunmu, who earns $7.5MM this season and will be a free agent in the offseason if he doesn’t sign an extension before then. However, Edwards doesn’t view scenario as likely, noting that McBride has been a key contributor for New York and is on a team-friendly contract.
A “few” rival executives Edwards spoke to don’t think Karl-Anthony Towns is off-limits in trade talks, but his value is believed to have declined since the Knicks acquired him. That’s also the case for Mikal Bridges, multiple league sources tell Edwards. Both of those factors seemingly make the Knicks a long shot to acquire Giannis Antetokounmpo, even though they remain interested in the superstar forward.
If Towns is traded by February 5 in a deal that doesn’t involve Antetokounmpo, Edwards hears the Knicks would likely receive salary-matching pieces. Minor draft compensation may be included as well. While he wouldn’t be surprised if the five-time All-Star is moved in a non-Antetokounmpo deal, Edwards thinks that outcome is unlikely.
Here’s more from Edwards on the Knicks:
- New York continues to shop Guerschon Yabusele, but his contract is viewed negatively and rival teams think the Knicks will have to attach assets to move him unless he’s included in a major multi-team trade, sources tell Edwards. Yabusele is included in Edwards’ “most likely to be traded” tier along with Pacome Dadiet, Tyler Kolek and Jordan Clarkson. According to Edwards, Clarkson could be a buyout candidate after the deadline if the two sides decide to part ways — the veteran guard has been out of the rotation lately.
- Edwards’ “could get traded, but I wouldn’t bet on it” tier consists of Towns, McBride and Mitchell Robinson. As Edwards writes, New York’s front office has a history of trading players on expiring contracts, but Robinson has been very valuable when active and it probably doesn’t make sense to move him given his on-court contributions.
- The “won’t get traded unless in an Antetokounmpo-type deal” group features OG Anunoby, Josh Hart and Bridges. The only untouchable player on the Knicks’ roster is Jalen Brunson, according to Edwards.
- Edwards also lists three small-scale trades that could make sense for the teams involved. One of Edwards’ fake deals would see New York acquire Jose Alvarado and Karlo Matkovic from New Orleans in exchange for Yabusele, Dadiet and Washington’s 2026 first-round pick, which is top-eight protected and almost certain to be conveyed as two second-round picks. Those two second-rounders hold real value though, and Edwards isn’t sure it would be worth it, but Alvarado has drawn a good deal of interest on market.
Knicks Rumors: KAT, Giannis, Yabusele, Targets, Bridges
The Knicks reportedly spoke to the Bucks about a possible Giannis Antetokounmpo trade last offseason after the two-time MVP identified New York as a preferred landing spot, but those talks didn’t go anywhere. That could be partly because Karl-Anthony Towns was rumored to be the Knicks’ outgoing salary, and some people around the league don’t highly value the former No. 1 overall pick.
“I don’t think there is a [trade] market for KAT,” an NBA executive told Stefan Bondy of The New York Post (subscriber link). “Not that he is a bad player, but he’s not a winning player. … It’s too much money to spend on him.”
Knicks sources tell Sam Amick of The Athletic that the offseason trade talks involving the two big men created “hard feelings” between Towns and the front office that “remain to this day.”
For his part, Towns downplayed his name being involved in recent trade chatter, Bondy writes in another story. The five-time All-Star has known Leon Rose for years, as the Knicks’ president was Towns’ former agent at CAA, but they haven’t spoken about any of the speculation.
“I feel like I’ve been in trade rumors a lot for a lot of times, for a year damn near. That don’t matter to me,” said Towns, who was traded from the Timberwolves to the Knicks before last season. “I don’t look at social media or none of that stuff. I focus on the job on hand which is trying to get wins every single night. As long as I do that, I do my job, I go home happy and I feel accomplished. I’m not worried about what anybody got to say or people write or anything like that.”
Here are a few more rumors and notes from New York:
- According to Bondy, the Knicks remain highly interested in Antetokounmpo, but Milwaukee is reportedly looking for “blue-chip young talent” and several draft picks in any deal involving the nine-time All-NBA forward, and New York simply lacks the necessary assets to have a competitive bid compared to other teams, which control their future first-round picks. Unless Antetokounmpo specifically requests to be traded to the Knicks, they’re a “long shot” to land him, says Bondy. Of course, even if Giannis does prefer to play in New York, the Bucks aren’t obligated to fulfill the request. New York’s odds of landing Antetokounmpo would theoretically improve in the offseason, Bondy notes, when the team will have two first-round picks to trade, as opposed to the top-eight protected 2026 first-round pick the Knicks currently control from the Wizards that will likely turn into two second-rounders.
- The Knicks are still actively looking to unload Guerschon Yabusele‘s contract and have been talking to multiple teams about possible trades, Bondy reports (subscription required). Bondy continues to hear Pelicans guard Jose Alvarado is on the team’s radar, and confirms Yves Missi is as well. Kings guard Keon Ellis is another player who has fans in the Knicks organization, a source tells Bondy.
- Yabusele, a french forward/center, holds a $5.8MM player option for next season. When asked about the possibility of returning to the EuroLeague at some point, Yabusele didn’t rule it out but said his focus is on the NBA, per Toni Canyameras of Spanish outlet Mundo Deportivo (Twitter video link). “I feel like that’s a good question,” Yabusele said. “I definitely don’t know what tomorrow is going to be like or anything like that. But I never close my door on anything. Obviously it was so [difficult to make it back] to the NBA [that I’m focused on staying] in the NBA, but we will see what opportunities present themselves. There’s definitely going to be a conversation to have, and [we’ll] see what the [European options are]. We will see. I will never say never [to a potential return].”
- Veteran wing Mikal Bridges has been in a slump for most of the past month, but he torched the Raptors in Wednesday’s win at Toronto, finishing with 30 points on 12-of-15 shooting in 36 minutes. Bridges, a Philadelphia native who played college ball at Villanova, struggled in Saturday’s loss in Philly, scoring just nine points on 3-of-16 shooting. He said that game served as something of a wake-up call (Twitter video link via Knicks on MSG). “I think a lot of it comes from not just shooting the ball, I think I just wasn’t playing how I was supposed to be playing. I think I wasn’t coachable enough,” Bridges said. “I don’t know what it was. Maybe I felt too much entitlement. Just kinda had to talk to myself a little bit about it and just be coachable and be the best teammate I can be and let the basketball speak for itself.”
Pelicans Rumors: Draft, Missi, Morant, Murray, Alvarado, More
Acquiring a 2026 first-round pick is a priority for the Pelicans as the trade deadline approaches, Will Guillory of The Athletic writes, confirming reporting from ClutchPoints and The Stein Line. New Orleans would like to continue adding to its young core but no longer controls a ’26 first-rounder after trading its own pick to Atlanta last June for Derik Queen.
With the Pelicans resistant to moving Zion Williamson, Trey Murphy III, and Herbert Jones, their best bet to acquire that 2026 first-rounder they’re seeking might be making a Yves Missi deal. But it’s not a foregone conclusion that the second-year center will be on the move in the next seven days — Guillory says New Orleans still believe in Missi’s upside and wouldn’t mind experimenting more with a frontcourt that features him playing alongside Queen.
Still, according to Guillory, there have been “whispers” throughout the season about Missi’s desire to be in a situation where he could be a full-time starter. The 21-year-old made 67 starts for New Orleans as a rookie but has primarily come off the bench this season.
Guillory suggests that the Pelicans’ ability to extract a first-round pick for Missi could come into focus within the next week as it becomes clearer which centers around the NBA will and won’t be on the move at the deadline.
Here’s more on the Pelicans:
- A rumor about the Grizzlies sending Ja Morant to New Orleans in a deal centered around Jordan Poole and Dejounte Murray is “completely false,” Guillory says, adding that the Pelicans aren’t likely to pursue Morant since they view Jeremiah Fears as their long-term point guard. Still, Poole and Murray are both considered potential trade candidates and there’s a sense that New Orleans would like to move at least one of them, Guillory notes. He also hears, as ClutchPoints reported on Wednesday, that Murray and his representatives may prefer a change of scenery.
- There’s no shortage of suitors for Pelicans guard Jose Alvarado, says Guillory, adding the Spurs to the list of teams with interest. But sources familiar with Alvarado’s thinking have conveyed to The Athletic that the 27-year-old would prefer to remain in New Orleans.
- Both the Pelicans and Jordan Hawkins would be open to the possibility of finding the former lottery pick a new NBA home, Guillory reports. Hawkins is playing a career-low 14.1 minutes per game off the bench this season and is averaging just 4.3 points per game on .320/.301/.778 shooting.
- The Pelicans are “big believers” in two-way player Bryce McGowens and would like to make room on the 15-man roster to promote him to a multiyear standard contract, Guillory writes. The club currently has a full roster but could open up a spot as a result of its deadline moves.
Knicks Reportedly Targeting Sochan, Alvarado, Missi
The Knicks are targeting Jeremy Sochan, Jose Alvarado, and Yves Missi as they look to upgrade their bench prior to the trade deadline, Brett Siegel of ClutchPoints reports.
Each of those players could offer a different element to New York’s second unit.
Sochan, who has fallen out of the Spurs’ rotation, would give the Knicks another defensive-minded wing with size. He’s a subpar outside shooter but a solid rebounder. He’s making $7.1MM and will be eligible for restricted free agency at season’s end.
Alvarado is a scrappy point guard who could solve New York’s dilemma with finding a steady backup for Jalen Brunson. Alvarado is averaging 7.9 points and 3.2 assists in 21.9 minutes per game off the bench. He holds a $4.5MM option on his contract for next season.
Missi would give the Knicks a young big with the potential to be a starter in the future. He started 67 games last season for New Orleans as a rookie but his minutes have declined in his second season. He’s averaging 5.7 points, 5.8 rebounds and 1.3 blocks in 19.1 minutes per game. He’s still on his rookie deal and New Orleans already exercised the $3.5MM option on his contract for next season.
The Knicks have been discussing a few different avenues to move Guerschon Yabusele, who has been a free agent bust. He holds a $5.775MM option on his contract for next season. Both the Spurs and Pelicans have held talks with the Knicks regarding Yabusele, according to Siegel.
Siegel also lists Mavericks forward Naji Marshall as another New York trade target, but that may be more of a pipe dream. League interest is high on Marshall and the Mavericks have pinned a heavy price tag on any deal involving the much-improved forward.
The Knicks’ ability to make any deal is complicated by the salary cap issues. They are hard-capped and approximately $150K below the second tax apron, as Luke Adams notes in our latest Front Office post for subscribers.
New York can’t take in more salary than it sends out. The Knicks are also carrying 14 players on their standard roster, one below the limit, making it more difficult to send out more players than they’re bringing in due to roster requirements.
Trade Rumors: Morant, Antetokounmpo, Yabusele, Pelicans, Clippers
Injuries to two star players may be taking some of the excitement out of the trade deadline, writes Tim Bontemps of ESPN. Grizzlies guard Ja Morant and Bucks forward Giannis Antetokounmpo were expected to be two of the top names on the market, but Morant suffered an elbow sprain that will force him to miss at least three weeks and Antetokounmpo left Friday’s game with a right calf injury that he expects will keep him out of action for four-to-six weeks.
Bontemps notes that the market for Morant was already shaky, in part because of his availability issues. He has played just 20 games this season and 79 total over the past three years. Morant’s contract, which pays him $42.2MM next season and $44.9MM in 2027/28, also limits his trade value, along with his diminished shooting — he’s currently connecting at 41% from the field and 23.5% from three-point range.
If Antetokounmpo does miss several weeks, the Bucks’ season could be a “lost cause” by the time he returns, Bontemps adds. Already sporting an 18-26 record, it would be easy for Milwaukee to fall down the standings and focus on the draft rather than trying to make a run at the play-in tournament. That could result in a high selection in a year with a loaded draft class, while seeing if Antetokounmpo is willing to commit to signing an offseason extension.
There’s more trade news to pass along:
- The Knicks‘ strategy for the deadline will likely include trading away Guerschon Yabusele, according to Ian Begley of SNY.tv (Twitter video link). Begley is the latest media member to suggest the Spurs as a possible destination for Yabusele because of his experience playing alongside Victor Wembanyama on the French national team. Begley mentions Pelicans guard Jose Alvarado as a possible addition for New York, and he doesn’t believe Karl-Anthony Towns will be moved.
- Trading Alvarado could be one of several moves for the Pelicans, according to Brett Siegel of ClutchPoints (Twitter link), who says New Orleans continues to get calls about Trey Murphy III, Herbert Jones and Saddiq Bey. No deals are close, but Siegel said there’s a belief around the league that the Pelicans will be active before the deadline.
- Head coach Tyronn Lue doesn’t expect the Clippers to be involved in any major deals, per Law Murray of The Athletic (Twitter link).“If a team’s trying to trade for you, then somebody wants you,” Lue said. “You could be in other guys’ shoes where nobody wants you, nobody wants to trade for you, and then you’re out of the league. … In our situation, I don’t see much movement. So I think we’ll be good.”
Rockets Gauging Dorian Finney-Smith’s Trade Value?
Houston is exploring the trade market in search of a potential backcourt upgrade, according to Brett Siegel of ClutchPoints, who hears from sources that the Rockets have looked into what sort of return they could get for forward Dorian Finney-Smith and second-round draft capital.
A veteran three-and-D wing who signed with Houston last summer, Finney-Smith missed the first two months of the season while recovering from left ankle surgery. Since making his debut on Christmas Day, the 32-year-old has played a very limited role, logging between 13 and 18 minutes in each of his first 12 outings.
Finney-Smith has averaged just 2.9 points and 2.8 rebounds in 15.5 minutes per night so far as a Rocket, and he’s earning $12.7MM this season, with a guaranteed $13.3MM salary for 2026/27 — he’s under contract through 2028/29, but the final two years of his deal are non-guaranteed.
As a result, Finney-Smith’s value on the trade market will likely be pretty limited, though it’s worth noting that his overall impact isn’t always reflected by his counting stats. While it’s a small sample, Houston has a +9.5 net rating and a 102.1 defensive rating during his 186 minutes on the court.
Jose Alvarado of the Pelicans and Scotty Pippen Jr. of the Grizzlies are among the guards whom league personnel have identified as possible trade targets for Houston, per ClutchPoints. Siegel also mentions Bulls guards Coby White and Ayo Dosunmu as potential players of interest for the Rockets, though it would take more than Finney-Smith and second-round picks to acquire either one.
The Grizzlies haven’t given any indication they want to move Pippen, Siegel acknowledges. Additionally, any deal involving Pippen and Finney-Smith would require more outgoing salary from Memphis’ side, since the Grizzlies guard is earning just $2.3MM.
Alvarado, meanwhile, is considered the Pelican who is most likely to be dealt and has generated interest from multiple teams, including the Knicks and Pistons, Siegel writes. Atlanta and Indiana were also linked to Alvarado earlier this season.
Like Pippen, Alvarado has a relatively small cap hit ($4.5MM), so unless more pieces are added, a deal sending Finney-Smith to New Orleans wouldn’t be practical for the Pelicans, who are operating just $2MM below the luxury tax line. They don’t want to surpass that threshold or take back long-term money in a trade, per Siegel.
As the Rockets consider their options on the trade market, they’re not looking to trade veteran point guard Fred VanVleet, who is recovering from a torn ACL, and they’re also unlikely to make a move that would reduce Reed Sheppard‘s role, Siegel adds.
Injury Notes: Reid, Giddey, M. Wagner, Alvarado, H. Jones
Big man Naz Reid, who was starting in place of Rudy Gobert, was ruled out after playing just five minutes in Saturday’s loss at San Antonio due to soreness in his left shoulder, the Timberwolves announced (via Twitter).
It’s unclear if Reid, the 2024 Sixth Man of the Year, will miss additional time as a result of the shoulder injury.
The 26-year-old forward/center had been playing some of his best basketball of the season in the four games leading up to Saturday, averaging 21.5 points, 7.0 rebounds, 2.8 assists, 1.0 steal and 1.0 block per night on .604/.577/.700 shooting during that brief stretch (29.8 minutes per contest).
Here are a few more injury updates from around the NBA:
- Bulls guard Josh Giddey has been assigned to the G League’s Windy City Bulls as he works his way back from a left hamstring strain, per the team (Twitter link). Assuming Sunday’s practice goes well, Giddey should be back in action either Tuesday against the Clippers or Thursday at Minnesota, tweets K.C. Johnson of the Chicago Sports Network.
- While there’s no indication that he experienced a setback, Magic center Moritz Wagner was ruled out of Sunday’s game vs. Memphis with what the team called left knee injury management (Twitter link). The German big man just made his season debut last Sunday after missing most of 2024/25 with a torn ACL in his left knee.
- A pair of trade candidates for the Pelicans continue to be sidelined with injuries. Guard Jose Alvarado will miss his seventh consecutive game Sunday at Houston due to a left oblique strain, while forward Herbert Jones remains out with a right ankle sprain (link to injury report). Jones, who made the All-Defensive First Team in 2023/24, will miss his 14th game as a result of the injury.
NBA Suspends Jose Alvarado, Mark Williams
The NBA announced today that Jose Alvarado has been suspended for two games without pay for his role in Saturday night’s fight during the Pelicans‘ game against the Suns (Twitter link). Suns center Mark Williams has been suspended for one game.
Both players were ejected during the third quarter of the game after a hard foul from the Pelicans guard led to Williams shoving Alvarado, leading to an altercation between the two players.
ESPN Bobby Marks notes (via Twitter) that the suspensions will cost Alvarado approximately $62K and Williams approximately $36K. Alvarado will lose 2/145ths of his $4.5MM salary as a result of his multi-game suspension, while Williams forfeits just 1/174th of his $6.3MM salary for the one-game ban.
The Suns ultimately won Saturday’s game by a score of 123-114 behind 20 points from Devin Booker.
Alvarado will miss games on Monday against the Knicks and Wednesday against the Bulls, while Williams will miss the Suns’ Monday night contest against the Wizards.