Jose Alvarado stays with the Knicks on new three-year deal

Jose Alvarado has signed a new three-year contract with the New York Knicks worth about $14 million, after becoming a free agent. The 28-year-old point guard, born and raised in New York, had joined the Knicks in a February trade from New Orleans and chose not to use his $4.5 million player option for next season. He then secured a longer deal to remain with the team he grew up supporting.

Alvarado, who is now an NBA champion, was said to be a key contributor in the Finals against San Antonio and has become one of the most popular players at Madison Square Garden. He celebrated the agreement by posting, “I’m home,” with orange and blue heart emojis.

His impact in New York was immediate. In just his fourth game after the trade from the Pelicans, he scored 26 points, hit 8 of 13 from three-point range and added 5 steals. His most memorable performance came in Game 4 of the Finals, when he scored 8 points in the fourth quarter and helped fuel a historic comeback from a 29-point deficit that gave the Knicks a 3-1 lead over the Spurs.

The report also said reserve center Mitchell Robinson is not expected to stay with New York. According to reports, Brooklyn, which has Ben Saraf and Danny Wolf, could claim him from free agency and move him across the East River. Separately, NBA reporter Jake Fischer said Milwaukee is exploring a trade for Myles Turner and Kyle Kuzma.