Jose Alvarado signs $9 million extension with Pelicans

Jose Alvarado, a guard for the New Orleans Pelicans, has secured a two-year contract extension valued at $9 million, as reported by a source familiar with the situation. This agreement includes a player option for the 2026-27 season, indicating the team's commitment to Alvarado as he enters the final year of his previous contract. Known for his defensive skills, Alvarado has made a name for himself in the NBA since going undrafted in 2021 after his college career at Georgia Tech, where he was recognized as the ACC Defensive Player of the Year. Over his three seasons in the league, Alvarado has averaged 7.5 points, 2.7 assists, and 1.2 steals per game, showcasing his ability to contribute effectively in limited minutes. His reputation as a tenacious defender has earned him the nickname "Grand Theft Alvarado," reflecting his knack for stealing the ball from opponents. As the Pelicans prepare for the upcoming season, Alvarado is expected to play a crucial role as a backup to newly acquired point guard Dejounte Murray. The Pelicans are gearing up for training camp, which opens in Nashville, Tennessee, following a preseason media event in New Orleans. Alvarado's extension not only solidifies his position on the team but also highlights the Pelicans' strategy to build a competitive roster. His contributions will be vital as the team aims to improve its performance in the upcoming NBA season. Overall, this contract extension is a significant step for Alvarado, who has shown promise and potential in his young career, and it reflects the Pelicans' investment in his development as a key player moving forward.