Knicks Earn Glowing Review for Jose Alvarado Trade

The New York Knicks, initially viewed as one of the major players to monitor entering trade season, exited the deadline with a few margin transactions to their name.

They sent Guerschon Yabusele's restructured contract to the Chicago Bulls in exchange for a former prospect in Dalen Terry, who they quickly flipped to New Orleans to net Jose Alvarado as the only player mentioned with a feasible shot at contributing to winning Knicks hoops. Where Yabusele was once hoped to bolster New York's rotation as a key offseason signing, Alvarado will fit much more of what the team needs at this point in the season.

New York Knicks Guard Jose Alvarado — Nov 26, 2025; New Orleans, Louisiana, USA; New Orleans Pelicans guard Jose Alvarado (15) reacts after a three point basket against the Memphis Grizzlies during the first half at Smoothie King Center. Mandatory Credit: Matthew Hinton-Imagn Images | Matthew Hinton-Imagn Images

The Knicks have won eight-consecutive games since tapping into a smothering defense, regularly holding teams to under 100 points per game through team-wide buy-in. With Miles McBride expected to miss whatever's left of the regular season after undergoing a core muscle surgery, here's another impact guard with understated perimeter chops and some of the most tenacious perimeter defense of any player on the trade block.

Grading the Move

Bleacher Report had no problem awarding New York with an "A" for their ability to flip Yabusele and his lack of surface-level trade value for Alvarado

"Knicks need someone other than Landry Shamet to handle the point-of-attack workload on defense, and Alvarado is more than qualified," Dan Favale wrote. "Beyond all of that, New York now drops more than $1 million beneath the second apron. That will allow it to be a player on the buyout market (for anyone not originally earning $14.1 million or more).

"The optics aren't as rosy if the Knicks lose Alvarado in free agency. This is a move you should only make if you believe he'll opt in—and potentially extend. Yet, even if he leaves, this deal became necessary from the Big Apple's perspective the moment it realized Deuce wouldn't be ready to rock anytime soon."

New York Knicks Guards Jalen Brunson and Miles McBride — Jan 9, 2026; Phoenix, Arizona, USA; New York Knicks guard Jalen Brunson (11) with guard Miles McBride (2) against the Phoenix Suns at Mortgage Matchup Center. Mandatory Credit: Mark J. Rebilas-Imagn Images | Mark J. Rebilas-Imagn Images

The Pelicans weren't greeted quite so genially by evaluators, accepting Terry and a few fringe picks for a known quantity in Alvarado.

"Netting two seconds for a reserve guard is solid value in a vacuum," Favale elaborated. "Getting out from under Jose Alvarado's $4.5 million player option for 2026-27 might be part of the calculus, too. The money is more than fine, but New Orleans remains closer to next year's tax than any team hovering around the bottom of the standings would like to be."

The next decision remains up to the Knicks as to whether they'd like to extend him or let him bet on himself using that $4.5 million player option that he has waiting for him before next season. He can force the Knicks' hand by playing up to expectations and filling in nicely for McBride on both ends of the court, though, making him the sort of commodity that the team lacked entering the trade.

For how much he can help the squad compared to his previous and upcoming cost, this win is already getting talked about as such.

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