In a strategic move that further solidifies their backcourt rotation, the New Orleans Pelicans have inked a two-year, $9 million contract extension with guard Jose Alvarado. The deal, which includes a player option for the 2026-27 season, underscores the franchise's belief in Alvarado’s potential as a key contributor moving forward.
Jose Alvarado’s journey to the NBA is nothing short of inspirational. Entering the league as an undrafted free agent in 2021, Alvarado has carved out a niche for himself through sheer determination and an impressive work ethic. Over the course of his career, he has amassed approximately $5 million, and this latest extension is a testament to his rising value within the league.
Last season marked a significant milestone for Alvarado, who not only finished sixth in the voting for Sixth Man of the Year but also posted a career-high 38% from beyond the arc. His ability to deliver high-value production at a bargain rate has not gone unnoticed by the Pelicans’ front office.
Alvarado is affectionately known by fans and teammates as "Grand Theft Alvarado," a moniker that speaks volumes about his playing style. He has developed a reputation as one of the NBA’s most dangerous turnover generators, particularly in the backcourt. His defensive tenacity is unparalleled, often leaving opponents flustered and contributing significantly to the Pelicans' defensive schemes.
As the Pelicans navigate their financial landscape, which currently sees them positioned over the luxury tax line, Alvarado's extension is a calculated investment. With key players like Trey Murphy III and Brandon Ingram due for new contracts, the franchise must exercise fiscal responsibility while remaining competitive. Alvarado’s continued improvement, particularly on the offensive end, provides the Pelicans with a low-risk, high-reward scenario.
Since joining the Pelicans, Alvarado has consistently displayed an upward trajectory in his game. His defensive prowess is well-documented, but his offensive skills have also shown marked improvement. This dual-threat capability makes him an invaluable asset to a team looking to make deeper playoff runs in the coming seasons.
With the Pelicans focused on building a roster capable of contending in the highly competitive Western Conference, Alvarado’s extension is a strategic step towards stability and growth. The team’s investment in him, particularly with the inclusion of a player option for the 2026-27 season, reflects their long-term vision and confidence in his abilities.
As the upcoming season approaches, all eyes will be on how Alvarado continues to develop and what impact he will have on the team’s overall performance. His story is one of perseverance and relentless effort, serving as a reminder that undrafted players can indeed make significant contributions at the highest level.
The Pelicans and their fans can look forward to more of 'Grand Theft Alvarado' moments as the guard continues to cement his place in NBA lore. His journey is far from over, and with this new contract extension, Jose Alvarado is poised to become an even more integral part of the New Orleans Pelicans' future success.