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• Updated Jun 19, 2026 at 7:25am

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Jose Alvarado of the New York Knicks looks on during an NBA game.

One of the most important players for the New York Knicks during their championship run was backup point guard Jose Alvarado.

The diminutive guard was vital in the Knicks’ 29-point comeback win in Game 4 against the San Antonio Spurs.

Alvarado has a player option for next season, and the expectation is that he’ll opt out, as reported by The Athletic’s John Hollinger.

Hollinger added that Alvarado could earn as much as $10 million annually if he becomes a free agent this offseason.

Jose Alvarado on His Potential Free Agency

GettyJose Alvarado #5 of the New York Knicks celebrates with the Larry O’Brien Championship Trophy after the victory against the San Antonio Spurs in Game Five of the 2026 NBA Finals at Frost Bank Center on June 13, 2026 in San Antonio, Texas.

In an appearance on The Breakfast Club, Jose Alvarado seemingly confirmed that he would be opting out of his contract. Alvarado wants to get paid this offseason after continuously proving everyone wrong in his career.

“First of all, I got to go get paid, man,” Alvarado said.

“That’s God willing. I want to be in this for a long time. I love this life. I love the NBA life. It feeds my family, and you know, it puts me in rooms where I could never be at.”

Alvarado was also asked about the possibility of taking a pay cut with the New York Knicks to keep the championship core in tact. He’s open to it as long as it makes sense for him.

“I got to see what makes sense for everybody,” Alvarado said. “I truly do feel like if it’s a great opportunity to stay home, I stay home.”

The 28-year-old guard was born and raised in Brooklyn. He played high school basketball at Christ The King in Queens before playing four seasons at Georgia Tech.

Alvarado was undrafted in 2021, but he played his way into a contract with the New Orleans Pelicans. The Knicks acquired him at the trade deadline in exchange for Dalen Terry and two future second-round picks.

In 28 regular-season games, Alvarado averaged 6.6 points, 2.0 rebounds, 3.8 assists and 1.0 steals. His playing time in the playoffs was limited, but he made his biggest impact in Game 4 of the NBA Finals. He had eight points, two rebounds and three assists as the Knicks completed the largest comeback in NBA Finals history.

Atlanta Hawks Urged to Target Jose Alvarado

GettyJose Alvarado #5 of the New York Knicks reacts during the second half of Game Five of the Eastern Conference First Round NBA Playoffs against the Atlanta Hawks at Madison Square Garden on April 28, 2026 in New York City. The Knicks won 126-97.

While the Atlanta Hawks are expected to re-sign CJ McCollum, they would still need a reliable backup point guard.

Jose Alvarado is one of the league’s best backups at that position, and Rohan Roman of Sports Illustrated has urged the Hawks to go after him in free agency.

“Adding Alvarado gives the Hawks an edge that they didn’t have last season,” Roman wrote.

“He sets his team up for success and fights over screens, guards players who tower over him and goes after rebounds with a tenacity that bleeds into the team.

Knicks owner James Dolan is willing to spend this offseason, but he doesn’t want to be in the second apron. It’s going to be a very interesting summer for Alvarado, who would fit with many contending teams.