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Pelicans Agree Two-Year-USD 9 Million Contract Extension for Jose Alvarado
The New Orleans Pelicans sign Jose Alvarado to a 2-year contract extension. Learn about the backup point guard's impact and future with the team.
The New Orleans Pelicans have made an important move to secure the future of their point guard position by agreeing to a two-year, $9 million contract extension with Jose Alvarado, as reported by The Athletic's Shams Charania. This extension, negotiated by Alvarado's agent, includes a $4.5 million salary for the 2025-26 season and a player option for the 2026-27 campaign, affirming the team's commitment to the 26-year-old player.
Alvarado, who was set to become an unrestricted free agent in 2025, will now remain with the Pelicans for at least two more seasons, solidifying his role as a key member of the team's rotation. The extension also guarantees a previously existing club option worth just under $2 million for the upcoming 2024-25 season, emphasizing the team's confidence in his abilities.
Having spent all three of his NBA seasons with the New Orleans Pelicans, Alvarado has displayed his value as a versatile player, averaging 7.1 points and 2.3 rebounds in 56 games last season. His contributions go beyond scoring and rebounding, as he also maintained solid shooting percentages, connecting on 41.2 percent of his field goal attempts and 37.7 percent of his three-point shots.
Alvarado has proven resilient despite battling injuries throughout his young career, notably a right ankle sprain that sidelined him for the start of the 2023-24 season and limited playing time during his rookie and sophomore years. Moreover, his defensive prowess is evident by averaging over one steal per game for two straight seasons.
With Alvarado set to support star point guard Dejounte Murray, who was acquired in a trade with the Atlanta Hawks, the Pelicans' backcourt is poised to be strengthened for the upcoming season. Alvarado's ability to provide depth and solidify the team's rotation is invaluable as they aim to make an impact in a highly competitive league.
Looking forward, the Pelicans are hopeful that Alvarado will stay injury-free and continue to contribute to the team’s success. His much-anticipated debut alongside Murray on October 23 against the Chicago Bulls will be a significant moment, marking the start of a promising and dynamic partnership in the backcourt.
As the 2024-25 NBA season approaches, the Pelicans are optimistic that Alvarado's extension will significantly boost the team's performance on the court and contribute to their greater ambitions of becoming a formidable force in the league.
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