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Jose Alvarado Will Return to the Knicks on a Multiyear Deal, AP Source Says
Jose Alvarado declined a $4.5 million option and is working on a three-year deal worth more than $14 million, ESPN reported.
On Friday, guard Jose Alvarado agreed to return to the New York Knicks on a multiyear contract worth more than $14 million, according to The Associated Press.
Alvarado declined his $4.5 million player option to pursue this three-year deal after being acquired from New Orleans during the season.
Primarily a backup behind All-Star Jalen Brunson, Alvarado played key minutes during the Knicks' 107-106 victory over San Antonio in Game 4 of the NBA Finals, contributing eight points and three assists.
The Brooklyn native and Christ the King High School alumnus confirmed his return by writing "I'm home" on social media.
ESPN first reported the plan for the three-year deal, which keeps the guard with the team through 2026 while the contract remains subject to finalization.