New Knicks Rumors on Jose Alvarado Contract Option Decision Date Ahead of NBA Draft, Free Agency

After helping the New York Knicks win a championship this year, Jose Alvarado has now given the team a bit of flexibility ahead of Tuesday's NBA draft.

Per NBA insider Jake Fischer, the guard has agreed to pivot his decision date on his $4.5 million player option for next season from Tuesday to Friday as the Knicks weigh their trade options in the draft.

Alvarado, a trade deadline acquisition from the New Orleans Pelicans, averaged 7.4 points, 3.4 assists, 2.5 rebounds and a steal per game in 69 contests, mostly coming off the bench. The scrappy 28-year-old was vital to the Knicks' success in the postseason, even if he wasn't stuffing the stat sheet.

Alvarado seemingly gave some insight into his free agency decision during an appearance on The Breakfast Club, where he said he's "got to go get paid" (h/t Heavy's Juan Paolo David).

A New York City native, Alvarado said he wants to stay with the Knicks if it's the best opportunity.

"I got to see what makes sense for everybody," he said. "I truly do feel like if it's a great opportunity to stay home, I stay home."

The Athletic's John Hollinger reported that Alvarado is expected to opt out of his contract, adding that he could make as much as $10 million a year if he hits free agency.

As much as the Knicks would like to have Alvarado back, $10 million a year might be more than they're willing to pay. New York already has to think about star center Karl-Anthony Towns, who is eligible for a four-year, $272 million contract, and owner James Dolan made it clear that he won't go into the second apron.

For now, the Knicks will focus on the draft. Bleacher Report's Jonathan Wasserman projects New York to take Arkansas' Meleek Thomas at No. 24 and Spain's Sergio de Larrea at No. 31.