NBA
Pelicans, Jose Alvarado Agree to Two-Year, $9M Extension
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All posts by James FoglioUpdated30 Sep 2024
The New Orleans Pelicans and guard Jose Alvarado agreed to a two-year, $9 million contract extension on Saturday, his agent told The Athletic’s Shams Charania.
Alvarado, 26, had one year and $1.9 million left on his deal and now will be signed with the Pelicans through the 2025-26 season with a player option for 2026-27. His extension includes a $4.5 million salary for 2025-26.
Per ESPN’s Bobby Marks, his salary for the 2024-25 season will not change. However, the $1.9 million club option will become guaranteed as part of the extension.
As part of the two-year $9M Jose Alvarado extension in New Orleans, sources confirm that the $2M non-guaranteed salary for this year will get guaranteed.
The extension starts at $4.5M and contains a player option in 2026-27.
— Bobby Marks (@BobbyMarks42) September 28, 2024
The 6-foot Alvarado initially joined New Orleans on a two-way contract in 2021 after a four-year career at Georgia Tech. He finished sixth in the NBA’s Sixth Man of the Year voting last season.
In 56 games off the bench in the 2023-24 season, the New York native averaged 7.1 points, 2.3 rebounds, 2.1 assists, 1.1 steals, and 18.4 minutes per contest. He also shot 41.2% from the field, a career-best 37.7% from 3-point range, and 67.3% at the free throw line.
Additionally, in New Orleans’ 111-88 win over the Miami Heat on March 22, 2024, he recorded a season-high 17 points on 6-of-12 (50%) shooting from the floor and 4-of-7 (57.1%) from deep.
Alvarado missed the first 13 games of the 2023-24 campaign with a right ankle sprain.
New Orleans Pelicans guard Jose Alvarado will likely slot in behind former Atlanta Hawks guard Dejounte Murray
For the upcoming 2024-25 season, Alvarado is expected to play in the second unit behind full-time starter Dejounte Murray, who the Atlanta Hawks traded to New Orleans in June.
Alvarado’s best NBA season was his sophomore 2022-23 campaign, when he averaged career highs of 9.0 points, 3.0 assists, and 21.5 minutes in 61 appearances (10 starts).
Furthermore, Pelicans coach Willie Green praised Alvarado in March for not letting his size limit him.
“It starts with his heart,” Green said. “He plays with his heart and soul every game. It’s hard to bottle that up into a stat. Then you add his instincts. He has tremendous on-court defensive instincts. It’s why he was ACC Defensive Player of the Year.
"Jose has been a big part of our culture,"
– Bryson Graham on Jose Alvarado #Pelicans pic.twitter.com/UajQLWVSee
— New Orleans Pelicans (@PelicansNBA) September 30, 2024
“With all the talent in that conference, it was him. He only knows how to play one way. That’s the beautiful part about Jose. He brings it 110% every time he steps on the floor.”
The Pelicans are aiming to make the playoffs for the second straight year for the first time since the 2008-09 season and just the third time in their 23 years in New Orleans.
The Pels have not advanced to the conference semifinals since 2017-18 against the eventual NBA champion Golden State Warriors. New Orleans lost in five games to a Warriors team led by Stephen Curry and Kevin Durant.
