Latest Knicks Trade Rumors Reveal New Potential Target Ahead of 2026 NBA Deadline

The New York Knicks will reportedly be among the teams interested in New Orleans Pelicans guard Jose Alvarado if he is made available before this year's Feb. 5 trade deadline, per SNY's Ian Begley (h/t HoopsHype).

"And I think teams around the league are just keeping an eye down there to see who's New Orleans going to make available," Begley said.

"What will they want for those players? A New York product, Jose Alvarado, if they make him available, the Knicks, I'm sure, will be one of those teams that are interested. The Knicks will be among many teams that are interested in Jose Alvarado if he is made available."

Alvarado was born and raised in New York and played college ball at Georgia Tech before joining the Pelicans as an undrafted free agent in 2021.

The six-foot guard has gained notoriety for his defensive efforts, gaining the nickname "Grand Theft Alvarado." This season, the 27-year-old is averaging 8.9 points on 43.9 percent shooting, 3.3 assists, 2.9 rebounds and 1.0 steals in 22.5 minutes per game.

Alvarado is getting paid $4.5 million this season, and he holds a player option for the 2026-27 season. Begley discussed his moveable salary as well as the benefits Alvarado would bring to New York (or whomever else lands him).

"And the interesting thing with Jose is his salary, I believe he is at $4.5 million. So like salary matching is less difficult at that number. You talk about backup point guard for the Knicks, you talk about a player in Alvarado who defends and brings a passion on the end of the floor. I'm sure a lot of teams will be calling if New Orleans made him available."

The Pels are last in the Western Conference at 4-22, so with Alvarado potentially leaving in free agency, it makes sense for them to see what they can get via trade and build toward the future.

Meanwhile, the 17-7 Knicks are second in the Eastern Conference and hoping to win the franchise's first NBA title since 1973. Alvarado could be an instant fan favorite in New York given the facts that (a) he's from there and (b) he's a gritty, tough player, the type of talent that Knicks fans love.

We'll see if anything transpires. For now, the Knicks are in the NBA Cup semifinals against the Orlando Magic. Tipoff in Las Vegas is scheduled for Saturday at 5:30 p.m. ET.